Zuma Energía receives $300m to build two solar farms in Mexico

27 November 2017 (Last Updated November 27th, 2017 10:51)

Actis’ renewable energy platform Zuma Energía has secured nearly $300m project financing to develop two solar farms totalling 337MW capacity in Mexico.

Zuma Energía receives $300m to build two solar farms in Mexico
Solar power generation. Credit: Minoru karamatsu/Flickr.

Actis’ renewable energy platform Zuma Energía has secured nearly $300m project financing to develop two solar farms totalling 337MW capacity in Mexico.

The funds were received through Bancomext, Banobras, Nafin, and North American Development Bank (Nadbank).

Contracts to build the facilities were awarded through Mexico’s second long-term electricity auction.

"The facilities will be able to power more than 500,000 homes with renewable electricity."

To be situated in Orejana and Santa María, the facilities will be able to power more than 500,000 homes with renewable electricity and reduce around 280,000 thousand tons of carbon dioxide emissions annually.

Once commissioned, the Orejana solar park will have a capacity of 158MW, while the Santa María plant will have 179MW capacity.

Zuma Energía board member and Actis Mexico head Michael Harrington said: “We are seeing the energy reforms play out and attract new players and international funding.

“Mexico has compelling fundamentals for investing in power generation, including superior natural resources, an evolving and supportive regulatory framework, and a deep project finance capacity.”