One of Mexico’s largest retail companies, Tiendas Soriana, is teaming up with global photovoltaic company, Hanwha Q Cells, to install solar across 120 of Mexico’s supermarkets.
Soriano and Hanwha Q Cells have signed a 20-year power purchase agreement (PPA) for 31MW of PV across Sariano's stores.
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Under the PPA, more than 12,000 of Hanwha Q Cells’ Q.PRO-G3 250w modules are to be installed across Mexico at 120 carport and rooftop retail locations.
Hanwha Q Cells is to provide financing for the total 31MW, while Soriana will benefit by reducing its on-grid power demand with on-site solar power generation and saving on energy bills.
Construction is scheduled for completion in 2015; Hanwha Q Cells is continuing its partnership with local developer, Ilioss, to install the rooftop and carport systems.
Construction is to begin in Mexico City and then branch out to other parts of the country.
Ilioss and Hanwha Q Cells has already begun building seven solar projects, in Baja California Sur.
David Arelle, Ilioss’ CEO said the 31MW would collectively create the biggest rooftop solar project in Latin America.
Hanwha Q Cells said in a statement the PPA was part of a planned, long-term partnership between Hanwha Q Cells and Soriano, which could lead to further PV installations for Soriana in the future.
“Solar power makes strong economic sense for many large retail and industrial energy users in Mexico, even without any government subsidies,” said Alejo Lopez, Hanwha Q Cells manager for Mexico.
“This project allows Soriana to meet both its sustainability and cost saving goals” by using the “most advanced technology to obtain clean energy at preferential costs,” said Aurelio Adán, CFO of Soriana.
Moon Hwan Cha, Hanwha Q Cells USA president, said thanks to “great solar resources and a positive investment outlook, Mexico is a prime growth market”.
“The robust financial standing of the Hanwha Group allows Hanwha Q Cells to establish long-term partnerships with customers in key markets like Mexico and other emerging markets in Latin America,” added Hwan Cha.