Engie, Tokyo Gas secure $60m loan for Mexican renewables portfolio

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From pv magazine France.

The Proparco private-sector focused subsidiary of the French Development Agency has loaned $60 million to utility Engie and Japanese gas company Tokyo Gas for four solar power plants and two wind farms in Mexico. The projects will have a total generation capacity of 900 MWp.

Engie and Tokyo Gas created the 50/50 Heolios EnTG joint venture for the development and construction of the projects in April with the gas company describing the move as its first collaboration on renewables projects outside Japan.

The solar projects in question are the 254 MWp Calpulalpan plant and facilities at Villa Ahumada (200 MWp), Trompezon (159 MWp) and Abril (134 MWp). The wind farms are Tres Mesas 3 (52 MWp) and 4 (101 MWp).

Financial close

The Trompezon solar park and Tres Mesas 3 have recently reached financial close, according to Tokyo Gas, which added one of the other four assets was set to be finished next year.

Proparco said the projects, which will eventually have supported more than 8,800 jobs, will contribute €181 million ($202 million) to Mexican GDP.

At the time Tokyo Gas acquired its half share in Heolios, in April, the fossil fuel company announced the JV held a six-project renewable energy portfolio. The clean energy facilities secured 15-year power purchase agreements from Mexican power capacity auctions, according to Tokyo Gas and Heolios.

Tokyo Gas launched a solar development venture in February 2017.