Jinko secures financing for 100 MW project in Mexico

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JinkoSolar won the 100 MW (AC) Viborillas solar project in the state of Jalisco in the first auction held by the Mexican government in March 2016.

Now, Milbank has announced in a press release that a group of lenders formed by Natixis, MUFG Bank, BBVA Bancomer, Intesa Sanpaolo, Sumitomo Mitsui Banking Corporation and Société Générale, has financed the construction of the solar park.

Roland Estevez, member of the Global Project, Energy and Infrastructure Finance, said, “This financing is another example of Mexican energy reforms continuing to bear fruit. The project highlights the growth in the renewables sector as it expands to meet the needs of Mexico’s growing population and industrial base.”

Jinko was awarded around 188 MW of solar projects in Mexico’s first energy auction. The three PPAs for the projects were signed with Mexico’’s Federal Electricity Commission (Comision Federal de Electricidad) in August 2016.

The other two projects are located in the state of Yucatan. JinkoSolar confirmed that the PPAs are for a 15-year period each, with related Clean Energy Certificates stretching to 20 years.