FRV secures financing for 300 MW photovoltaic plant in San Luis Potosi
Fotowatio Renewable Ventures (FRV), part of Saudi Arabian company Abdul Latif Jameel Energy, today announced it has secured a deal to start construction of a 300 MW solar farm in San Luis Potosi.
The deal for the Potosi Solar Farm, in the Municipality of Villa de Ramos in the State of San Luis de Potosi, will see construction begin in early 2018. The project is valued in US$ 200 million.
Located 60 km northeast of the city of Zacatecas, the Potosi Solar Farm will generate enough energy to power around 150,000 homes and reduce greenhouse gas emissions by approximately 600,000 tons of CO2 per year.
This is the first project operated by Abdul Latif Jameel Energy in the country, and was awarded in the second auction held by the National Center for Energy Control (CENACE) in September 2016, followed by the Power Purchase Agreement (PPA) with CFE Suministro Basico in March 2017.
Construction will be carried out by Spain-based company TSK under and will cover an area of approximately 800 hectares. Up to 300 jobs will be created during the construction phase.
Abdul Latif Jameel Energy, through Fotowatio Renewable Ventures (FRV), closed the financing agreement with KFW (Kreditanstalt für Wiederaufbau), Bancomext and ING.