Guanajuato Solar PV Plant

active

The project entails the construction and operation of a 60-MW (net) solar PV plant located in the Municipality of San Miguel Allende, Guanajuato State. This is a greenfield project initiated on a BOO modality. The project contract was awarded in one of the power auctions held by the Mexican government based on competitive bidding. Project 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, a unit of global infrastructure fund KKR, is sponsoring the project. Total investment stands at $62.7 million and is being funded in 59:41 debt to equity ratio. Project financing 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. Financing closed on June 25, 2018. https://ijglobal.com/articles/133987/x-elio-secures-financing-for-mexico-solar-pv-plant https://www.pv-magazine.com/2018/06/25/idb-finances-60-mw-pv-project-in-mexico-with-37-million/