IDB Invest arranges more solar financing in Mexico

IDB Invest arranges more solar financing in Mexico

Project & Infrastructure Finance Loans Debt Energy Renewable Solar Mexico

IDB Invest said it has arranged $101m in financing for Spain's X-Elio to build a solar power plant in the city of Navojoa in the state of Sonora in northwest Mexico. The multilateral lender granted a $34.9m loan, including $11.6m from the China Co-financing Fund for Latin America and the Caribbean. The financing also involved a $33m loan from ING and another $33m from the local development bank Bancomext, IDB Invest said in a press release. X-Elio has signed three 15-year power purchase agreem

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