X-Elio will install a photovoltaic solar plant in Guanajuato

As part of its growth plan in Mexico, X-Elio is about to finish the construction of a new photovoltaic solar plant in the state of Guanajuato.

The leading global developer in photovoltaic solar energy with a presence in the five continents, confirmed that with this new plant, it will contribute to increasing the unconventional renewable energy capacity installed in the country and to the diversification of the country's energy matrix.

This installation will have a capacity of 74 megawatts of peak power and will represent an investment of 71 million dollars for X-Elio . 

It should be noted that IDB Invest together with the Official Credit Institute (ICO) and Bank of Tokyo (MUFG) are financing the construction and maintenance of this project.

With this plant, X-Elio will have five facilities in Mexican territory , which will come into operation throughout this year, as well as in 2019 and 2020. 

For the company, Mexico has ample growth possibilities in the future thanks to its geographical conditions and regulatory support. Currently, the country has around 40 projects under construction and an estimated investment of $ 5 billion , according to the Mexican Solar Energy Association (Asolmex).

Jorge Barredo, CEO of X-Elio, assured that this new plant is a clear example that they are complying with the established internationalization plans. In addition, in recent years they have worked to consolidate their presence in Mexico, a reference market in the field of photovoltaic solar energy.

“Thanks, among other things, to the Energy Transition Law. With this plant we are cooperating with the government of Mexico, whose objective is that by 2050 clean energy sources provide 50% of the combination of electricity generation ”, he stated.

In addition to the Guanajuato project, IDB Invest will finance the other two projects that X-Elio will develop in Mexico within the set of projects awarded in the framework of the long-term auction in 2016. 

The Spanish company is building a solar photovoltaic power plant with a capacity of 81.40MWp in the state of Morelos and a solar photovoltaic power plant in the state of Chihuahua with a capacity of 93.71 MWp . 

These three projects will help in achieving the objectives set to diversify the electricity matrix, by delivering clean photovoltaic solar energy and supporting the creation of a wholesale energy market in the country.