X-Elio closes finance for 119-MW solar project in Mexico

X-Elio PV plant. Image by X-Elio (https://x-elio.com)

July 26 (Renewables Now) - Spanish solar developer and operator X-Elio has closed a USD-44.1-million (EUR 37.5m) financing agreement for its 119-MW Perote II solar photovoltaic (PV) project in Mexico.

The loan, signed with the International Finance Corporation (IFC) and Banco Sabadell SA (BME:SAB) in Mexico, will be used for the construction, operation and management of the future plant, X-Elio announced today.

The solar farm will be located in the municipality of Perote, in the state of Veracruz. X-Elio believes the facility will be capable of generating enough power to avoid the emission of 4 million tonnes of carbon dioxide (CO2) emissions over the course of 35 years.

Present in Mexico since 2015, X-Elio currently has a portfolio of 535 MW of projects in operation in the country, the firm adds.

(USD 1.0 = EUR 0.850)

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