EGP wins right to sign contracts for PV plants of around 1GW in Mexico

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13 April 2016, Nuclear, Solar, Wind

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"We are extremely pleased about the results of this tender. It marks another historic moment for the company and confirms our global leadership in the renewables generation arena." said Enel Green Power CEO Francesco Venturini. "Mexico is a pivotal market for all serious players in this field due to its huge potential in clean energy and stable regulatory framework. The nearly 1 GW we have just been awarded, in addition to the capacity already in operation and under construction, have turned us into the main player in the country. We have worked hard to become one of the most competitive companies in many clean technologies and the positive outcome of this tender is another clear indication of the success of our growth strategy."

EGP will be investing approximately 1 billion US dollars in the construction of the new facilities, in line with the investments outlined in the company's current strategic plan. Each of the three projects will be supported by a contract providing for the sale to Mexico's Federal Electricity Commission (Comision Federal de Electricidad in Spanish or CFE) of both specified volumes of energy over a 15-year period and the related clean certificates over a 20-year period.

The projects are expected to enter into operation in 2018 and will generate more than 2 TWh of green energy per year, making a significant contribution to both Mexico's need for new power generation and the country's environmental goals.

Villanueva and Villanueva 3 will be built in the State of Coahuila, in the north of Mexico, and will have a combined installed capacity of 754 MW1. The 427 MW1 Villanueva plant is expected to generate about 973 GWh per year, avoiding the annual emission of over 441,700 tonnes of CO2. Villanueva 3 will have an installed capacity of 327 MW1 and is expected to produce about 738 GWh per year, while avoiding the annual emission of more than 335,000 tonnes of CO2 into the atmosphere.

The 238 MW1 Don Jose PV solar project will be constructed in the State of Guanajuato, in north-central Mexico. The plant is expected to generate around 539 GWh per year, while avoiding the annual emission of more than 244,700 tonnes of CO2 into the atmosphere.

Source: MarketLine

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