Global developer of renewable utility-scale projects Fotowatio Renewable Ventures (FRV) has reached financial close for the 342 MW »Potosí« solar farm in Mexico. FRV has closed the financing agreement with German KfW (Kreditanstalt für Wiederaufbau), Mexican Bancomext and Dutch ING. Located near a major network infrastructure 60 km northeast of the city of Zacatecas in the State of San Luis de Potosí, the plant will be connected to the national electricity grid. Construction will be carried out by TSK under an EPC contract and will begin in early 2018. The facility is expected to be operational by early 2019.
The project, which will be first to be operated by FRV in the country, was awarded in the second auction held by the National Center for Energy Control (CENACE) in September 2016 and was followed by the Power Purchase Agreement (PPA) with CFE Suministro Basico in March 2017 (we reported). According to a former announcement, investment is about $200 million.
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