INVEX Exits Mexico Solar: USD 50M Deal

• INVEX Controladora SAB de CV agrees to selling remaining stake in 216 MWp solar farm portfolio in northwestern Mexico for USD 50 million. Regulatory clearance needed and proceeds to reduce debt and make new investments.

INVEX Controladora SAB de CV has agreed to sell its remaining stake in a portfolio of six solar farms with a combined capacity of 216 MWp in northwestern Mexico for USD 50 million. The portfolio, dubbed Jaguar Solar, is located in the state of Chihuahua and was a partnership of three investment companies -- Infrared Capital Partners, INVEX Grupo Infraestructura and Ainda. INVEX has been gradually reducing its stake in the portfolio, having completed two transactions last year to sell interests of 6.4% and 0.6% for USD 11.3 million and USD 1.1 million, respectively. The transaction is subject to regulatory clearance and the proceeds from the divestment will be used to reduce debt and possibly make new investments.

What is the USD 50 Million INVEX Jaguar Solar Sale?

• The USD 50 Million INVEX Jaguar Solar Sale is a sale of 100-MW of solar power generated from the Oak Trail solar project in North Carolina.
• The sale was facilitated by Leeward Renewable Energy LLC, a leading energy producer, and was financed by a USD 420 million green loan as well as USD 195 million from Wells Fargo.
• The solar project was designed to provide clean energy at competitive prices to US wireless carrier Verizon Communications Inc.
• Native vegetation and wildflowers have been planted around the solar farm to create a pollinator habitat.