Mexican dev banks finance 337 MW of solar projects

Solar park in Mexico. Author: Presidencia de la Rep├║blica Mexicana. License: Creative Commons, Attribution 2.0 Generic.

November 20 (Renewables Now) - Two solar projects totalling 337 MW that were successful in Mexico's second long-term power auction have reached financial close, the country's Secretariat of Energy (SENER) announced on Sunday.

The projects will receive USD 294 million (EUR 249m) from Mexican development banks Bancomext, Banobras and Nafin, and the North American Development Bank (Nadbank).

The two projects are the 158-MWp Orejana solar park in the northwestern state of Sonora and the 179-MWp Santa Maria solar park in the neighbouring state of Chihuahua. They are being developed by Zuma Energia, a company backed by Actis and Mesoamerica.

Orejana will receive USD 139 million and Santa Maria will get USD 155 million in financing. The facilities are both scheduled to become operational in the middle of 2019 and are expected to produce enough electricity to supply 357,000 homes.

The news follows a SENER announcement in August this year that the country's development banks will help finance nearly 1 GW of wind and solar projects, including a 424-MW wind project of Zuma Energia.

Mexico last week unveiled preliminary results of its third long-term power auction.

(USD 1 = EUR 0.849)

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Plamena has been a UK-focused reporter for many years. As part of the Renewables Now team she is taking a keen interest in policy moves.

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