The Inter-American Development Bank (IDB) Group has agreed to provide Spanish solar project developer, X-Elio, a unit of global infrastructure fund KKR, with US$37 million in funds for the construction of a 60 MW solar power plant in the state of Guanajuato, in central Mexico.
The IDB said that the financial package includes a loan of $12.8 million from the Official Credit Institute (ICO) of Spain, a credit facility of $7.8 million from Japan’s largest financial services provider, MUFG Bank, a $9.6 million IDB Invest loan, and two more loans, one totaling $3.6 million from the Canadian Climate Fund for the Private Sector of the Americas (C2F) and another worth $3.2 million from the Chinese Fund for the Co-financing of the Americas.
The project, said the IDB, was awarded in one of the power auctions held by the Mexican government, without providing further details. It will sell electricity to the national grid of the Federal Electricity Commission (CFE) under a 15-year contract, while also selling clean energy certificates over a 20-year period.
X-Elio is currently planning to deploy around 244 MW (DC) of PV in Mexico, all of which is coming from three large-scale projects selected under Mexico’s auction mechanism, including the 60 MW (AC) plant in Guanajuato. Another 92 MW (DC) facility, for which the IDB is also considering providing financing, is being planned in the state of Chihuahua, while a third 81 MW (DC) project is being developed in the municipality of Xoxocotla, in the state of Veracruz.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: firstname.lastname@example.org.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.