Villanueva I & III and Don José Solar Projects

in implementation

Enel S.p.A. (Enel), through its renewable energy subsidiary Enel Green Power, S.p.A. (EGP or the Client), is seeking financing for a portfolio of three solar projects in México: the Villanueva I Solar Project (427 MW), the Villanueva III Solar Project (327 MW) and the Don José Solar Project (238 MW) (each, a Project and together, the Projects). The total estimated cost of the Project is approximately USD 1,032 million (the Project Cost). The equity requirement for the long-term financing to meet the debt sizing criteria is USD 314 million, and the remainder of the Project Cost is expected to be funded by Senior Loans from the IDB Group, other international financial institutions and a group of commercial banks. The Projects were awarded long-term Power Purchase Agreements (PPAs) in 2015 in the first energy auction held by Mexico’s Centro Nacional de Control de Energía (CENACE) under its new regulatory framework for the energy sector. Under the PPAs, the Projects will supply a fixed amount of energy (from years 1-15) and Mexican clean energy certificates (CELs) to the Comisión Federal de Electricidad (CFE), the state-owned Mexican generator, distributor and marketer of electricity.Brief Project Description:Villanueva I & III are located in the municipality of Viesca, in the North of Mexico in the Coahuila state. Don Jose is located in in the municipality of San Luis de Paz, in the center of Mexico in the Guanajuato state. The projects will connect into the CFE national grid system. The Projects are being developed by EGP through its Mexican subsidiary, Enel Green Power México S.R.L. de C.V. (EGP Mexico).The Projects will contribute to the Government of Mexico’s (GOM) objectives of diversifying its electricity matrix, by delivering clean, solar PV energy and supporting the push to create a wholesale electricity market, while reducing the Country’s dependency on thermal energy, as Mexico’s goal is for clean energy sources to provide 50% of the nation’s electricity generation mix by 2050.