September 19 (Renewables Now) - 174 Power Global, an affiliate of South Korea's Hanwha Group, has secured USD 74 million (EUR 63m) project financing for a 101-MW photovoltaic (PV) power plant in Mexico.
The financing facility was provided by Mexico's Banco de Comercio Exterior (Bancomext) and the Korea Development Bank, Clifford Chanced, which advised on the deal, said on Tuesday.
The project, called Laguna Solar, is located outside the city of Torreon in the northern Mexican state of Coahuila. It was awarded a power purchase agreement (PPA) with Mexico's national power company Comision Federal de Energia (CFE) in the country’s long-term power auction.
(USD 1 = EUR 0.855)