Fotowatio Renewable Ventures (FRV) announced Thursday that it has been awarded a 300MW solar project in the second electricity market auction conducted by the National Energy Control Center (CENACE) of Mexico.
The construction of the plant is set to begin in mid-2018 and is expected to become operational by mid-2019. It will create around 250 local jobs as part of the construction phase and a further 20 jobs during operations. Once completed, the installation will generate enough energy to power approximately 76,100 homes.
Through this auction, Mexico plans to build more than 15,000MW of new installed capacity of renewable energy.
Rafael Benjumea, CEO of FRV, said: “Mexico is one of the world’s richest markets in renewable energy sources, which presents numerous opportunities for FRV and international investors. FRV’s success in this auction marks a milestone as it further expands the company’s footprint in Latin America and supports its global growth plans. Our pipeline in the country, in addition to our expertise and competitiveness, places us in a good position to continue participating in future auctions.”