Mexico City - Cubico Sustainable Investments has announced that one wind park and one solar farm with a combined capacity of 600 MW have become operational in Mexico.
The London-based renewable energy investor has reached the operation stage with its 250-MW Mezquite wind farm in Nuevo Leon and the 350-MWp Solem solar PV project in Aguascalientes. The energy generated by these projects is sufficient to supply more than 200,000 average households in Mexico and will contribute to avoiding more than 800,000 metric tons of CO2 equivalent emissions per year.
The two projects won power purchase agreements (PPAs) in Mexico's second long-term electricity auction that was held in September 2016. They are now selling the bulk of their power and clean energy certificates "at very competitive prices" to the Mexican state-owned utility CFE Basic Supply, said Osvaldo Rance, head of Cubico Mexico.
Cubico expects to reach ready-to-build status in the first half of 2020 for two additional wind projects in Mexico totalling 400 MW. Completion is planned for 2021.
Ricardo Díaz, head of Cubico Americas, commented: "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. This position will enable us to continue growing in the country, both organically and through opportunistic acquisitions as a long-term investor."
Sources: Renewables Now • Smart Energy