IEnova bags 3rd PPA for 150-MW solar project in Mexico
Solar park in Mexico. Author: Presidencia de la República Mexicana. License: Creative Commons, Attribution 2.0 Generic.
Mexican power and gas utility Infraestructura Energetica Nova SAB de CV (IEnova) has secured a third power purchase agreement (PPA) to support its 150-MW solar project in Juarez in Mexico's Chihuahua state.
The latest off-take deal was signed with packaging supplier Envases Universales de Mexico SAPI de CV, IEnova announced Monday.
This September, IEnova announced signing two separate PPAs for the output of the same solar power plant. One was with department store chain El Puerto de Liverpool SAB de CV and the other with convenience store chain Comercializadora Circulo CCK SA de CV and their respective subsidiaries. Both off-take deals have 15-year terms.
The investment in the project stands at around USD 160 million (EUR 145.1m), and the solar park will commence operations in the second half of 2020.
IEnova operates in Mexico as a unit of San Diego-based utility and energy infrastructure company Sempra Energy (NYSE:SRE). The company has more than 1,000 MW of solar and wind power assets in operation or under construction.
Sladjana has significant experience as a Spain-focused business news reporter and is now diving deeper into the global renewable energy industry. She is the person to seek if you need information about Latin American renewables and the Spanish market.