FRV in Mexico

Fotowatio Renewable Ventures (FRV) has signed with International Finance Corporation (IFC) and the National Bank of Foreign Trade (Bancomext) the financing agreement of Potrero Solar, the company’s second solar plant in Mexico and has a power of 296 megawatts (MW). Potrero Solar, whose construction began last May and is expected to be operational in mid-2020, is the first FRV project in Mexico that has been funded without having any of the products (energy, CELs or capacity) previously committed to the auction mechanisms and one of the largest of this type worldwide. In addition, it is also one of the largest bifacial photovoltaic projects in the world. Once completed, the plant will sell the electricity generated and its corresponding clean energy certificates in the country’s energy market. The solar plant, located in Lagos de Moreno, in the State of Jalisco, will generate approximately 700 gigawatt hours (GWh) of clean energy per year, enough to supply around 350,000 Mexican homes and prevent the emission of 345,000 tons of CO2 each year. In addition, Potrero, which will be built by a consortium formed by the multinationals Power China and Prodiel under a contract of ‘EPC’, will favor the economic development of the area and job creation, giving about 1,500 jobs during the phase of construction of the plant.