Perote II

active

FV MEXSOLAR XI, S.A.P.I. DE C.V. (the “Company”) is developing a 118.9MWp/100MWac greenfield solar photovoltaic (“PV”) plant in the Municipality of Perote, State of Veracruz, eastern Mexico (“Perote II” or the “Project”). The Company proposes to design, build and operate this solar PV plant and onsite substation for interconnection to the national electrical grid on an area of approximately 310 hectares of sparsely populated seasonal farmland. Total project cost is estimated to be US$98 million. IFC is considering providing a senior loan of US$10 million from its own account; a senior syndicated loan of US$25 million; and a senior loan of US$15 million from IFC acting in its capacity as implementing entity for the Managed Co-Lending Portfolio Program.  FV MEXSOLAR XI, S.A.P.I. DE C.V. (the “company”) was established by X-Elio Energy S.L. (“X-Elio”) and Cox Energy Solar S.A. (“Cox Energy”, and with X-Elio “the sponsors”).  Founded in Spain in 2007, X-Elio began as a small engineering and development firm. X-Elio is now a global vertically-integrated company focused on developing, constructing, and operating utility-scale photovoltaic plants.  Cox Energy is a Spanish company active in the renewable energies sector, specifically in the solar photovoltaic segment. X-Elio is 80% owned by Kohlberg Kravis Roberts & Co. L.P. (“KKR”), one of world’s largest private equity companies, and 20% by Gestamp Group, a Spanish industrial group.