Renewable energy infrastructure investor Actis has launched Yeltica Energy, a Mexican renewable energy platform.
The new renewables platform aims to scale a portfolio of solar PV, wind and battery energy storage systems (BESS) beyond 2GW and currently has three solar-plus-storage projects in the pipeline.
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Totalling nearly 330MW solar PV and 225MWh BESS, the solar-plus-storage projects have been awarded under Mexico’s first Mixed Investment Tender run by the state utility, the Comisión Federal de Electricidad (CFE), which awarded more than 7GW of solar PV and wind capacity earlier this year.
The new Mexican platform aims to grow through further participation in the country’s public tenders and through proprietary origination with developers and offtakers.
Moreover, the former Latin America CEO of Spanish developer Zelestra, José Luis García, will be leading Yeltica Energy. García has more than 25 years of experience in the energy sector, and at Zelestra, he previously built and divested over 1GW of renewables across Chile, Perú and Colombia. García previously served as CEO at former Actis business Zuma Energia where he developed and built more than 800MW of solar PV and wind assets in Mexico.
Alberto Estefan, managing director, energy infrastructure at Actis, said: “Mexico is one of the most compelling infrastructure markets in Latin America from our perspective. In energy in particular, rising demand and a policy framework that looks to mobilise private capital is creating strong opportunities for investors. We have deep roots in this market and the on-the-ground expertise to build and operate the critical, clean power to support Mexico’s growth and energy security.”
Prior to the launch of Yeltica Energy, Actis has been present in the energy market in Mexico with the previously owned companies Zuma Energia, Saavi Energia and Atlas Renewable Energy.
The launch of the new platform comes only months after the Mexican government published its renewables target by 2030, with solar PV accounting for the bulk of new renewables capacity in the coming years.
The Renewable Energy Growth Plan in Mexico targets 12GW of new solar PV capacity by 2030, with solar PV generation expected to increase by 140% between 2026 and 2030.
