X-Elio closes finance for 119-MW solar project in Mexico

• Spanish solar developer as well as operator X-Elio has closed a USD-44.1-million (EUR 37.5 m) funding arrangement for its 119-MW Perote II solar photovoltaic (PV) project in Mexico.

The funding, authorized with the International Financing Corporation (IFC) and also Banco Sabadell SA (BME: SAB) in Mexico, will certainly be utilized for the building and construction, procedure as well as administration of the future plant, X-Elio announced today.

The solar farm will certainly be found in the municipality of Perote, in the state of Veracruz. X-Elio thinks the center will can generating adequate power to prevent the exhaust of 4 million tonnes of carbon dioxide (CO2) exhausts throughout 35 years.

Existing in Mexico since 2015, X-Elio currently has a portfolio of 535 MW of projects in operation in the nation, the company includes.