Viborillas Solar Power Plant

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The project entails the development and operation of a 100 MW solar PV plant located in Jalisco state. The project is named Viborillas Solar Power Plant and will be developed by a special purpose vehicle - Solar Park Viborillas, S. de R.L de C.V. The sole owner and developer of the project is Jinko Solar, part of Jinko Power Company. The company selected Solarcentury to partner on the development of its Mexican power project. The output will be sold to the CFE under 15-year PPAs and related clean energy certificates (CELs) for a 20-year period. The contract was awarded in April 2016 in Mexico's first long-term power auction based on lowest tariff per unit of electricity. The auction involved 227 offers and 69 bidders, with just 17 projects awarded, two of which have been won by JinkoSolar and Solarcentury. Financial closure occurred on December 22, 2017. Project financing was developed by six commercial banks in the form of term loan and VAT facility. The term loan amounts to $170 million and VAT facility to $19 million. The funding was provided in equal split by Mitsubishi UFJ Financial Group, SMBC, Natixis, BBVA, Intesa San Paolo and Societe General. In addition, the sponsor provided $47.3 million i equity contribution. Debt to equity ratio is 80:20. https://ijglobal.com/data/transaction/38328/viborillas-solar-pv-power-plant-1275mw https://ijglobal.com/articles/106970/banks-emerge-on-jinkos-mexican-solar