Cubico Sustainable Investments, a global investor in the renewable energy, has announced that its 600MW solar and wind portfolio has commenced operations in Mexico.
The renewable energy portfolio includes the 250MW Mezquite windfarm that is located in Nuevo León in the northeast of Mexico and the 350MW Solem solar PV project in Aguascalientes, central Mexico.
The Aguascalientes solar facility is reported to be one of the largest in the Latin American region to reach commercial operations.
Cubico Mexico head Osvaldo Rance said: “These projects are honouring all their obligations under the power purchase agreements (PPAs) awarded in Mexico’s second long-term electricity auction in September 2016.
“The bulk of the of the energy, clean energy certificates and capacity produced by these projects are sold at very competitive prices to the Mexican state-owned utility CFE Basic Supply, the entity responsible for energy supply to the low-income housing and agribusiness sectors.”
The energy generated by these two facilities is enough to power more than 200,000 homes in Mexico, while offsetting more than 800,000 metric tonnes of carbon emissions annually.
Additionally, Cubico owns two more wind projects in Mexico with a combined capacity of 400MW that are currently in the advanced stages of development. The company said that these projects are expected to reach ready-to-build status during the first half of 2020, and are set to begin commercial operations in 2021.
Cubico Americas head Ricardo Díaz said: “We are very proud of what we have achieved in Mexico so far, having positioned ourselves among the top renewable energy companies and built a strong local platform comprised of highly experienced multidisciplinary professionals.”