Acciona and Tuto Energy have signed a financing agreement for the 404MWp plant with four banks - North American Development Bank, Banco Nacional de Obras y Servicios of Mexico, Instituto de Crédito Oficial of Spain and Banco SABADELL- for a maximum $US 264 million (226 million euros at current exchange rates). The plant is being financed on an equal basis among the four entities in the project finance modality, with a repayment term of 18 years.
"We are very pleased to have signed this finance agreement, which shows the confidence of the financial entities in our ability to complete and manage such an ambitious renewable project as this one, the biggest ever materialized by Acciona Energía", says Acciona Energía Mexico CEO Miguel Angel Alonso.
For his part, Roberto Giesemann, CEO of Tuto Energy and the Biofields Group, points out that "signing off this investment strengthens the group's strategy of consolidating itself as a benchmark in sustainable activities in Mexico that create economic, social and environmental value".
Alex Hinojosa, Director-General of the North American Development Bank, adds: "we are pleased to have participated in the financing for this solar project, one of the biggest in Latin America, and we hope it will be an example for other companies that wish to take advantage of the considerable solar potential of Sonora within the framework of the energy reforms taking place in Mexico".