Ienova secures another long-term solar PPA in Mexico

The Mexican gas and electricity provider will sell solar power to Canadian multinational bank Novascotia under a 15-year PPA. The electricity will be provided by the solar plant portfolio the company is developing in the Mexican states of Sonora and Baja California.

Mexico's solar market is poised to become one of the world's largest in 2018, boosted by the nation's auction system.

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From pv magazine Mexico

Mexican gas and electricity supplier Ienova, a unit of U.S.-based natural gas services company Sempra Energy, has secured a 15-year PPA with an unspecified number of subsidiaries of Scotiabank Inverlat, SA, Grupo de Banca Múltiple, and Grupo Financial Scotiabank Inverlat (Scotiabank).

“The electricity will be generated by Ienova's photovoltaic plant portfolio,” the company said in a statement, without adding further details.

A PPA of the same type was closed in March with one of Mexico’s largest retailers, El Puerto de Liverpool for the power that will be generated by a 125 MW solar park, which the company is planning in Benjamin Hill, in the state of Sonora.

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Ieanova also closed a similar deal last year, when it signed a 20-year PPA for another 110 MW PV project it is developing in Mexico with local steel manufacturer, Deacero. The Pima Solar project, which is located in the municipality of Caborca, in the state of Sonora, northwestern Mexico, is scheduled to be completed in the fourth quarter of this year.

Ienova is developing two further solar projects in Mexico: the 53 MW Rumorosa Solar project; and the 133 MW Baja California y Tepezalá II solar facility. Both projects were selected under Mexico’s energy auction, which was held in September 2016.

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