Camargo Solar Power Plant

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The Spanish company Avant Solar S.A. de C.V. announced the development of the Camargo solar photovoltaic (PV) power plant located in Camargo, Mexico (30 MW in capacity). The special purpose company Astilo 1 Solar, S. A. de C. V., was created to manage the project In January 2015, Astilo 1 Solar signed a long-term concession contract with Comision Reguladora de Energia. Camargo power plant had an estimated life span of between 25 and 30 years. The investment was estimated at US$ 45 million. In March 2016, financial closure was achieved when the Balam Fund I, owned by the American Rohatyn Group and the Mexican company BK Partners acquired the project by issuing CKDs (structured equity securities) in the amount of USS$45 million (Pesos $775 million). Gransolar has been selected to build the Camargo project under a turnkey contract. Construction works started in April 2016, and commercial operations were scheduled to commence in May 2017.