Guanajuato Solar PV

Project Name: Guanajuato Solar PV Project
Borrowers: FV Mexsolar I, S.A.P.I. de C.V.;
FV Mexsolar II, S.A.P.I. de C.V.;
Sponsoring Entity: (if any) X-ELIO Energy, S.L.
Financing Requested: Approximately US$45,347,000
Project Location: Los Rodriguez, San Miguel de Allende (Guanajuato)

The Guanajuato Solar PV Project (the “Project”) consists of the design, construction, commissioning and operation of a solar photovoltaic plants with a capacity of 70.35 MWp that will connect to the Mexican Comisión Federal de Electricidad (“CFE”) national grid system; and all associated transmission and interconnection facilities. The Project is being developed by X-ELIO Energy, S.L. (the “Sponsor”), in Los Rodriguez, San Miguel de Allende (Guanajuato) in Mexico. The total project cost is approximately USD 62,690,000. The financial plan is expected to include Inter-American Investment Corporation (“IIC”) and Inter-American Development Bank (“IDB”) loans and co-loans from the China Co-Financing Fund for Latin America and the Caribbean (“China Fund”), the Canadian Climate Fund for the Private Sector in the Americas (“C2F”) and the Instituto Credito Oficial (“ICO”), with 20-year door to door tenors, while a commercial bank tranche which will have a 16-year tenor. The Project was awarded a long-term (Energy & Capacity 15-yrs; CELs 20-yrs) Power Purchase Agreement (“PPA”) by the Mexican Federal Electricity Agency, Centro Nacional de Control de Energía (“CENACE”) in the 2nd Mexican Power Auction (“Subasta de Largo Plazo or “SLP 01/2016”) in September 2016. The plant will reach commercial operations date (“COD”) as per the PPA offer in June 2018. The PPA was signed with CFE, a BBB+ rated institution that has the implicit backing of the Government of Mexico (“GoM”). The Project will contribute to the GoM’s objectives of diversifying its electricity matrix, by delivering clean, PV solar energy and supporting the push to create a wholesale electricity market, while reducing the country’s dependency on thermal energy, as Mexico’s goal is for clean energy sources to provide 50% of the nation’s electricity generation mix by 2050.



Project Name: Xoxocotla Solar PV Project
Borrowers: X-Elio FV Xoxocolta, S.A.P.I de C.V.
Sponsoring Entity: (if any) X-ELIO Energy, S.L.
Financing Requested: Approximately US$ 44,071,000
Project Location: Xoxocotla, Ayala (Morelos)

The Xoxocotla Solar PV Project (the “Project”) consists of the design, construction, commissioning and operation of a solar photovoltaic plants with a capacity of 81.40 MWp that will connect to the Mexican Comisión Federal de Electricidad (“CFE”) national grid system; and all associated transmission and interconnection facilities. The Project is being developed by X-ELIO Energy, S.L. (the “Sponsor”), in Xoxocotla (Morelos)in Mexico. The total project cost is approximately USD 65,882,000. The financial plan is expected to include Inter-American Investment Corporation (“IIC”) and Inter-American Development Bank (“IDB”) loans and co-loans from the China Co-Financing Fund for Latin America and the Caribbean (“China Fund”), the Canadian Climate Fund for the Private Sector in the Americas (“C2F”) and the Instituto Credito Oficial (“ICO”), with 20-year door to door tenors, and a commercial bank loan with a 16 year tenor. The Project was awarded a long-term (Energy & Capacity 15-yrs; CELs 20-yrs) Power Purchase Agreement (“PPA”) by the Mexican Federal Electricity Agency, Centro Nacional de Control de Energia (“CENACE”) in the 2nd Power Auction (“Subasta de Largo Plazo or “SLP 01/2016”) in September 2016. The plant will reach commercial operations date (“COD”) as per the PPA offer in June 2019. The PPA was signed with the CFE, a BBB+ rated institution that has the implicit backing of the Government of Mexico (“GoM”). The Project will contribute to the GoM’s objectives of diversifying its electricity matrix, by delivering clean, PV solar energy and supporting the push to create a wholesale electricity market, while reducing the country’s dependency on thermal energy, as Mexico’s goal is for clean energy sources to provide 50% of the nation’s electricity generation mix by 2050.



Project Name: Conejos - Terranova Solar PV Project
Borrowers: Conejos Médanos S.A.P.I de C.V
Sponsoring Entity: (if any) X-ELIO Energy, S.L.
Financing Requested: Approximately US$49,927,000
Project Location: Municipality of Juarez, Chihuahua State, Mexico

The Conejos - Terranova Solar PV Project (the “Project”) consists of the design, construction, commissioning and operation of a solar photovoltaic plants with a capacity of 93.71 MWp that will connect to the Mexican Comisión Federal de Electricidad (“CFE”) national grid system; and all associated transmission and interconnection facilities. The Project is being developed by X-ELIO Energy, S.L. (the “Sponsor”), in Ascension, Suarez (Chihuahua) in Mexico. The total project cost is approximately USD 74,651,000. The financial plan is expected to include Inter-American Investment Corporation (“IIC”) and Inter-American Development Bank (“IDB”) loans and co-loans from the China Co-Financing Fund for Latin America and the Caribbean (¨China Fund¨), the Canadian Climate Fund for the Private Sector in the Americas (¨C2F¨) and the Instituto Credito Oficial (¨ICO¨), with 20-year door to door tenors, and a commercial bank tranche with a 16-year tenor. The Project was awarded a long-term (Energy & Capacity 15-yrs; CELs 20-yrs) Power Purchase Agreement (“PPA”) by the Mexican Federal Electricity Agency, Centro Nacional de Control de Energía (“CENACE”) in the 2nd Power Auction (“Subasta de Largo Plazo or “SLP 01/2016”) in September 2016. The plant will reach commercial operations date (“COD”) as per the PPA offer in March 2019. The PPA was signed with CFE, rated BBB+ rated institution that has the implicit backing of the Government of Mexico (“GoM”). The Project will contribute to the GoM’s objectives of diversifying its electricity matrix, by delivering clean, PV solar energy and supporting the push to create a wholesale electricity market, while reducing the country’s dependency on thermal energy, as Mexico’s goal is for clean energy sources to provide 50% of the nation’s electricity generation mix by 2050.