InfraRed Capital Partners signs US$34.5 investment deal for 72MW PV portfolio in Mexico

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email
InfraRed will invest US$17.5 million in each solar plant in order to acquire a 50% equity interest from Spanish contractor Bester Energy. Image: Sterling College / Flickr

London-based investment company InfraRed Capital Partners announced that it has signed off on a US$34.5 million investment deal for two greenfield solar PV projects in Northern Mexico.

The two installations — Torreoncitos and Rancho el Trece — are construction-ready projects that each boast an installed generation capacity of 32MW. Construction for both projects is expected to last for six months, with work scheduled to be completed at the end of 2017.

InfraRed will invest US$17.5 million in each solar plant in order to acquire a 50% equity interest from Spanish contractor Bester Energy. Bester Energy will perform construction duties on the plants under a fixed price.

The remaining 50% of the equity will be held by InfraRed’s business partner in Mexico, Invex Infraestructura.

Bester Energy will also provide operation and maintenance services to the projects during the first years of commercial operations.

Once both projects are completed, the power will be sold off to commercial and industrial customers through power distribution company Ammper.  Ammper is also jointly controlled between Invex and InfraRed, each committing US$1 million to set up operational capabilities.

Read Next

PV Tech Premium
July 14, 2021
Reforms in energy policy since the election of Andrés Manuel López Obrador have led to increased uncertainty for solar developers in Mexico, with renewables auctions cancelled and changes to power dispatch priorities proposed. Alice Grundy looks at how the market can move forward once again.
June 14, 2021
Asia boasts a growing number of markets with solar development pipelines in excess of 1GW, a new report by Fitch has found, with the region dominating the consultancy’s project database analysis this year.
June 1, 2021
Almost two thirds of people working in the solar industry expect to see double-digit sales growth this year, according to initial findings from a Global Solar Council survey.
February 25, 2021
The Global Wind Energy Council (GWEC) and Global Solar Council (GSC) have called on Mexican lawmakers to prevent changes to the country’s Electricity Act, Ley de la Industria Electrica (LIE), which pose what they call “an unequivocal threat" to private investment in clean energy.
August 5, 2020
Mexico’s president has pledged to change power dispatch rules, shunting privately owned renewables down the pecking order, in the latest twist of an ongoing spat between his regime and the clean energy sector.
July 14, 2020
Canadian solar companies have complained about the Mexican government’s treatment of them, warning that the regime may have already breached a new trade deal signed between the two countries earlier this month.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
August 19, 2021
At 9am (PT) | 6pm (CEST)
Solar Media Events
August 25, 2021
Solar Media Events
October 6, 2021
Solar Media Events
October 19, 2021
BRISTOL, UK