Credit: Dhamma Energy

Credit: Dhamma Energy

Mexican asset manager Prana Power has acquired a 108MW Mexican solar project from Madrid-based Dhamma Energy and US-headquarted firm Sunpower, who partnered on developing the project since 2015.

This ready-to-build PV system, located in the Mexican state of Guanajuato, holds private power purchase agreements (PPAs) under a self-consumption scheme in place prior to Mexico's energy reform. This scheme offers advantages to solar projects such as reduced transmission rates and the use of the public grid under the energy bank scheme. This scheme also allows the use of electricity from the solar park at any time of the day within a period of 12 months.

This is the second solar project under the self-consumption scheme for which Dhamma Energy has transferred the rights in the last few weeks in Mexico, after it recently closed the sale of a 37MW solar project in the state of San Luis Potosí.

Cofounder of Dhamma Energy, Philippe Esposito, said: “Mexico is one of the most dynamic markets for corporate solar PPAs. We are very pleased to participate in one of the most advanced large-scale self-consumption solar projects currently in the country."

In Mexico, Dhamma Energy has a pipeline of over 1GW of solar projects, of which over 300MW already hold all the permits required to begin construction.

Tags: sunpower, dhamma, c&i, corporate ppa, mexico, prana power, guanajuato, acquisitions

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