Solar project The Esperanza Solar project will combine a 420 MWdc photovoltaic plant with a 150 MW and 750 MWh battery storage system, strengthening the electricity supply in the Yucatan Peninsula. Copenhagen Infrastructure Partners (CIP) announced the final investment decision (FID) and the financial closing of this initiative, which will become one of the largest hybrid solar and battery storage projects in Mexico. The transaction marks the firm’s first investment in the country to reach financial close and begin its construction phase.
The complex will be located in the state of Campeche and will combine a 420 MWdc photovoltaic plant with a 150 MW battery energy storage system (BESS) and a capacity of 750 MWh, equivalent to five hours of autonomy. According to the company, construction has already begun and commercial operation is scheduled to begin in 2028.
The Esperanza Solar project is being developed on the Yucatán Peninsula, a region where the growing demand for electricity has increased the need to incorporate new generation and storage capacity. Thanks to the integration of photovoltaic technology and energy storage, the project will contribute to improving the stability and flexibility of the electricity grid.
Likewise, the system BESS it will allow energy to be stored during periods of peak solar production to supply it when demand increases, strengthening the reliability of the National Electric System and facilitating a greater incorporation of renewable energies.
The project was designated as a priority by the Ministry of Energy (SENER) and is backed by a power purchase agreement (PPA) long-term with CFE Calificados, the commercial division of Federal Electricity Commission (CFE) that serves large industrial and commercial consumers.
The financial closing of La Esperanza Solar includes credit lines of approximately $510 million, granted by a consortium made up of BNP Paribas, JPMorgan Chase Bank, Natixis CIB, Santander and Scotiabank.
The development will be carried out through the fund Growth Markets Fund II from Copenhagen Infrastructure Partners and contemplates a co-investment of I will benefit CIP, one of Mexico’s leading retirement fund managers. This transaction represents CIP’s first investment in Mexico to reach financial close.
Peter Halmo, director for Latin America and managing director of Copenhagen Infrastructure Partners he emphasized that the start of construction represents an important step for the company after several years of activity in Mexico.
The executive noted that this progress reflects the collaboration between the CIP team, the authorities, the contractors and the financial partners, and also highlights the role that hybrid solar and storage projects play in strengthening the reliability of the Mexican electrical system.
With La Esperanza Solar, CIP expands its energy infrastructure portfolio in Latin America through a project that combines photovoltaic generation and long-duration storage to respond to the growth in electricity demand in one of the regions with the greatest need for additional capacity in the country.
Source: Renewables Now
Photo: Shutterstock
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