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Puerto Libertad, Sonora, Mexico

Puerto Libertad Solar Park Project in the Municipality of Pitiquito, Sonora

Status: Under Construction

Background

The Project will increase installed capacity of renewable energy resources, which will help reduce future demand on traditional fossil fuel-based energy production and thus help prevent the emission of greenhouse gases and other pollutants from power generation using fossil fuels.

Description

The project consists of the design, construction and operation of a 317.5-MWac solar park located in the municipality of Pitiquito, Sonora (the “Project”). It has been divided into two components: Component 1 with 180-MWac and Component 2 with 137.5 MWac. 1 The Project will be carried out by two special-purpose companies. The electricity, Clean Energy Certificates (CELs) and generation capacity produced by Component 1 will be purchased by the Mexican federal electricity commission, Comisión Federal de Electricidad (CFE) pursuant to three long-term power purchase agreements (the “CFE PPAs”). The electricity, CELs and generation capacity produced by Component 2 will be purchased by a private off-taker and CFE Calificados S.A. de C.V., pursuant to two long-term power purchase agreements (together with the CFE PPAs, “the Project PPAs”), as well as sold on the spot market. NADB intends to participate in both components of the Project. At the moment, only Component 1 has obtained a MIA resolution from SEMARNAT. The disbursement of funds to Component 2 will be subject to the satisfactory completion of the MIA process. In the event that the MIA resolution from SEMARNAT for Component 2 is still pending at the time of Project funding, NADB financing will be allocated exclusively to Component 1.

Benefits

The estimated environmental and human health outcomes resulting from the installation of 317.5 MWac of new renewable energy generation capacity at the point of interconnection are:

a) Generation of approximately 961.55 gigawatt-hours (GWh) of electricity during the first year of operation.

b) An expected reduction of approximately 440,390 metric tons/year of carbon dioxide equivalent (CO2e).

Project Financing

Total Project Cost Reserved
NADB Funding US 75M - NADB Loan