Macquarie fund to buy solar project in Coahuila

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Macquarie Mexican Infrastructure Fund (MMIF), Macquarie Group's first managed fund in Latin America, will buy a 22.5-MW solar project in Coahuila for about US$41 million (MXN 758m/EUR 37m), the company announced.

Macquarie Mexican Infrastructure Fund (MMIF), Macquarie Group's first managed fund in Latin America, will buy a 22.5-MW solar project in Coahuila for about US$41 million (MXN 758m/EUR 37m), the company announced.The fund has committed to acquire 100% of Parque Solar Coahuila SAPI de CV, according to a press statement released yesterday. This will be MMIF’s first investment in solar power and second in renewable energy as it already has a mini-hydro project in Nayarit state.

Construction work on the solar scheme is seen to start in the third quarter of 2016. Spanish group TSK will be appointed as engineering, procurement and construction (EPC) contractor.

The project has four long-term contracts to supply its output to the Coahuila government, its municipalities of Torreon and Matamoros, and to a private Mexican firm at competitive prices at a discount to applicable regulated tariffs.