NADB considers loan for Mexico’s largest PV plant, Puerto Libertad

The bilateral North American Development Bank (NADB) is considering a loan for the planned 339 MW Puerto Libertad PV plant in Puerto Libertad in the state of Sonora. If the loan is approved, it could close by the end of the month.

Acciona, the engineering, procurement and construction (EPC) agent for the project expects soon to begin work on the project, with an expected completion date during the second half of 2018. Acciona also has served as an EPC for PV projects in Chile, South Africa, Portugal, Australia and Spain.

The project will become part of the second wholesale electricity market auction held in Mexico in September, in which Acciona was awarded 478 GWh. Acciona also has signed a 112 MW PPA for energy from the Puerto Libertad project with a subsidiary of the Tuto Energy Group, in turn a unit of the Biofields Group, of Mexico City. Acciona and Tuto are said to hold equal equity shares in the Puerto Libertad development.

The first 227 MW phase of the project has been earmarked for Mexico’s national electricity utility, Comisión Federal de Electricidad (CFE). The PPA will provide energy to an unidentified commercial consumer.

With the addition of the Puerto Libertad project, Acciona Energía will have built nearly 1.1 GW of installed renewables capacity in Mexico, of which a little over two-thirds is wind and almost one-third is solar.

“This will be the biggest photovoltaic plant in Mexico, from which we will generate electricity to cover already-committed public and private consumption”, said Acciona Energía Mexico director Miguel Ángel Alonso, at the time of the PPA announcement in February. He added, this is “the first (contract) of a private nature signed under the new law on electric power in Mexico.”