News
16 January 2020
IDB Invest helps finance X-Elio PV project in Mexico
In:
Renewable energy
Region:
Americas
Spanish solar developer and operator X-Elio has received a €35.3 million ($39.4 million) financing package for its 70MW Xoxocotla solar photovoltaic project in Mexico.
The package is comprised of a $17.2 million loan from IDB Invest, of which $4.6 million comes from the China Fund for the Co-financing of the Americas, and £3.3 million from the Canadian Climate Fund.
The remaining loans come from the Institute of Official Credit, which is providing $13.9 million, and MUFG with $8.3 million.
Located in the municipality of Ayala, Morelos state, Xoxocotla has a power purchase agreement (PPA) with a 15-year term for its output and one for clean energy certificates with a 20-year duration, IDB noted.
