X-Elio seeks ECA/DFI funding for Mexican solar project

Spanish solar developer X-Elio is looking to tap development and commercial banks for its 200MW solar project in Mexico. Financial close is expected in May this year.

The $250 million project, loacted in the city of Navajoa in the Sonora State, is set to be financed on a debt to equity ratio of 60/40 with the 18-year $150 million debt portion  provided by the IDB, BancoMext and sole commercial lender, ING. X-Elio was awarded the 200MW project in Mexico’s energy tender at the end of 2017.