Alten approaches IDB Invest to finance solar project in Mexico

Alten approaches IDB Invest to finance solar project in Mexico

Project & Infrastructure Finance Loans Debt Energy Renewable Solar Mexico Europe

Spain's Alten Energías Renovables has requested a loan for up to $45 million from IDB Invest to build a 250 MW solar power plant in Mexico.

Alten is expected to complete the financing with loans from commercial banks and other development banks, according to IDB Invest.

The project in the state of Puebla includes a 6km transmission to deliver power to an interconnection substation.

Alten and its partners, Sojitz and Cubico, financed two photovoltaic plants in the state of Aguascalientes in August 2017 with $230 million from IDB Invest, the International Finance Corporation (IFC), Bancomext, Banobras and MUFG.

The Mexican government has set a target to get 50% of the country's electricity from clean energy sources by 2050, according to IDB Invest.

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