Risen Solar, based in Ningbo, Zhejiang province, China is to invest US$600 million in a 300MW solar plant in Mexico.
In a statement to its shareholders, the company said the 300MW solar plant will be in constructed in three phases in the state of Durango, Mexico.
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Back in 2011, letters of intent were signed between Durango and Risen Energy for a 200MW solar development.
The shareholder letter confirms the development is now for 300MW.
The letter states US$600 million capital will come from Risen Energy and bank loans, but no specific capital has been confirmed.
The three phases of construction aims to have at least 250MW completed by 2017.
The state of Durango is to supply documents to support the solar power plant's smooth development.
Additional reporting by Huangye Jiang.
