French power giant ENGIE has signed a 15-year power purchase agreement (PPA) to supply energy from a 130MW solar PV plant to steel producer, Gerdau, in northern Mexico.
The PV plant being developed in Sonora, has around 400,000 solar modules and is due to be operational at the end of 2019. Once complete ENGIE will have surpassed 1GW of renewable energy generation capacity in the country in operation or in construction.
ENGIE has also signed a 16-year PPA with Santiago de Chile airport operator, Nuevo Pudahue, to supply the airport with 105GWh per year of green electricity to meet all its power needs.
Philip De Cnudde, CEO of ENGIE Latin America, said: “These two contracts clearly illustrate our strategy to deliver renewable energy to B2B customers as part of our customer solutions offer in Latin America.”
Pierre Chareyre, ENGIE EVP, in charge of the Business Units Global Energy Management and Latin America, said: “ENGIE is very proud to be tapping into the nascent green corporate PPA market and to deliver clean energy directly to its customers. These two new agreements are fully aligned with the Group’s strategic objective to pursue the development of renewable energy projects and to reinforce its presence in Latin America, a region with high growth perspectives.”
Solar & Storage Finance Asia returning to Singapore for its 5th edition, will be the meeting point for developers, financiers and investors across the region. Explore in depth the opportunities of the different countries via case studies, business and financial models that will foster growth in the region with particular focus on Thailand, Philippines, Indonesia, Taiwan, Korea, Cambodia, Singapore, Malaysia & Vietnam. The programme has been designed to enable you to win business and understand new opportunities in the market. Key topics include floating solar, project finance for PPAs, modernization of the grid and strategies for structuring and designing hybrid deals.