Macquarie fund in Mexico acquires solar park
Macquarie Mexican Infrastructure Trust I (MMIT I) has announced that Macquarie Mexican Infrastructure Fund (MMIF) has committed to acquire a 100% interest in Parque Solar Coahuila, a 22.5 MW solar generation project in Coahuila, Mexico. The acquisition is subject to standard closing conditions. MMIF is comprised of MMIT I and Macquarie Mexican Infrastructure Trust II.
The total investment commitment of MXN758 million (US$41 million) will be used to fund the acquisition and construction of the project. Construction will commence during the third quarter of 2016.
The park will supply power to the Coahuila Government, to its municipalities of Torreon and Matamoros, and to a private Mexican company under four long-term power purchase agreements, at competitive prices at a discount to applicable regulated tariffs.
The engineering, procurement and construction contract will be signed at a fixed price with Grupo TSK, a Spanish company which has experience in the construction of photovoltaic projects in Mexico.
Jonathan DavisArzac, Chairman of MMIF said
"We are pleased to announce our first investment in the solar energy sector, which will further complement MMIF's existing renewables investment - Generadora Eléctrica San Rafael - our mini-hydro project in the state of Nayarit. Photovoltaic power generation is renewable, reliable, and clean. We are pleased to promote Coahuila's first solar park, which is one of the first in Mexico."
