On April 14, Buenavista Renewables, OCI Solar Power, the La Salle educational network and Leoni Cable celebrated construction of Mexico‘s first private solar park with a ceremonial solar panel installation at the Los Santos Solar I solar power park in Moctezuma, Chihuahua, Mexico.
This project is the first utility-scale solar park to supply energy to private off-takers in Mexico via a 20-year power purchase agreement.
The $40 million solar plant received financing from the North American Development Bank and the Overseas Private Investment Corp. The plant will provide energy to La Salle educational network’s northern district and Leoni Cables, SA de C.V., a German-based company and leader in the production of cables and cable systems.
Los Santos Solar I is the first of a multi-stage project. This phase consists of 52,000 photovoltaic panels that will contribute to the wellbeing of the planet by displacing more than 16,500 metric tons per year of carbon dioxide (CO2) and fifty-seven metric tons per year of nitrogen oxides (NOx). This is equal to removing almost four thousand vehicles from the road each year or supplying electricity to twelve thousand homes.
BVR served as lead developer on this project with investment and project consultation provided by OCI Solar Power, an international solar developer based in San Antonio, Texas. When the Los Santos I project is complete, OCI will acquire ownership of the project and operate the project for the remainder of the PPA.
BVR was advised in the project by Holland & Knight, Chadbourne & Parke, Greenberg Traurig, and GSSG Solar.