Martifer Solar and Canadian Solar sign agreement for 63MW solar project in Mexico

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email
The project is one of 18 winning PV projects from Mexico's first clean energy auction, which ended with an average price of $40.50 / MWh for solar PV and $43.90 / MWh for wind.

Portugal-based PV development company Martifer Solar and its joint venture partners have signed a Development Agreement with Canadian Solar for a 63MW solar power project in Aguascalientes, Mexico.

Canadian Solar won the 63MWp project in Mexico’s inaugural energy auction, which will generate grid-connected electricity to be sold to regulator CFE under a 15-year PPA, along with associated 20-year clean energy certificates.

So far under the agreement, the joint venture partners comprised of Martifer Solar, Energia ECG and Ithaca Environmental Ventures, have sourced the land and interconnection point for the winning project and will provide full development services for the plant, which is located just 500km away from the capital.

The project began at the end of 2015 and is expected to be operational by Q3 2018. This project is one of many others under construction on the back of the renewable energy auction which brought wide investor interest into Mexico’s early-stage market, following the recent liberalisation of the electricity industry under nationwide energy reforms.

The projects are also closely aligned with ambitious government incentives for clean energy to reach 25% of all generation by 2018, with steady increases until the ultimate target of 50% by 2050.

“We are proud to see this successful result from Mexico’s first renewable energy auction, as we view it as an important emerging market within Latin America,” said Henrique Rodrigues, CEO of Martifer Solar.

“We look forward to working together with Canadian Solar, as well as with CFE and CENACE in order to help accelerate Mexico's transition to a clean energy leader within the region.”

Jesus Pacheco, director of development for Latin America from Martifer Solar, also commented: “It is an honour to work together with Canadian Solar on the development of this project and we are very pleased with this milestone achievement for our team in Mexico. Since Martifer Solar has been present in the market since 2011, it is exciting to see the growth and significant potential of Mexico’s renewable energy sector starting to be realised.”

Read Next

May 26, 2022
Leading solar manufacturers have implored governments to implement tax credits and other financial incentives to stimulate domestic PV manufacturing.
May 24, 2022
Canadian Solar has unveiled a new PV manufacturing strategy, bringing more upstream capacity inhouse to reduce its exposure to pricing volatility.
May 16, 2022
JinkoSolar, Trina Solar and Hanwha Q CELLS are among eight PV manufacturers that have been selected by the US Department of Commerce (DOC) to provide further information on their operations as part of the agency’s ongoing tariff circumvention investigation.
May 16, 2022
The world added record amounts of renewable energy last year with 295GW of capacity deployed, up 6% year-on-year, despite supply chain constraints, project delays and high commodity prices, according to the International Energy Agency (IEA), which also expects nearly 320GW to be deployed this year.  
April 21, 2022
Solar module suppliers Maxeon Solar Technologies and Canadian Solar have settled an agreement on a patent infringement lawsuit in Japan.
April 8, 2022
A round-up of the latest projects news, including Mitsui investing in ReNew Power’s ‘round the clock’ (RTC) project in India, Canadian Solar selling a solar plus storage project and JinkoSolar delivering 500,000 bifacial modules to a Greek project.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
June 7, 2022
Leonardo Royal London City, London, UK
Solar Media Events
June 14, 2022
Napa, USA
Solar Media Events
June 22, 2022
Sheraton Austin Hotel at the Capitol, Austin, Texas