The Puebla Solar Photo-Voltaic (PV) Project (“the Project”) consists of the design, construction, commissioning, operation and maintenance of a 250MWAC PV solar power plant in the state of Puebla, México; and all associated transmission and interconnection facilities, which include a transmission line (TL) of up to 6 km. from the lift substation, to the interconnection substation with the Transmission System network.
The Project will receive income under bilateral energy purchase and sale contracts and will sell part of the energy generated in the market, seeking a balance between contracted and market prices. The Project will contribute to achieving the objectives of the Government of México to diversify its electricity matrix by delivering clean PV solar energy and supporting the impulse to create a wholesale electricity market while reducing the country's dependence on thermal energy, since the Mexico's objective is that in 2050 clean energy sources provide 50% of the electricity generation combination.
The proposed transaction consists of a forty-five-million-dollar loan (US$45,000,000) to be funded by IDB Invest (“IDBI”). In addition, IDBI in its capacity as administrator of the Canadian Climate Fund for the Private Sector in the Americas – Phase II (C2F) will provide a loan of up to seven million dollars (US$7,000,000).