London-based Cubico Sustainable Investments has won contracts in Mexico’s second energy auction to supply electricity from the 250MW Mezquite wind farm and the 290MW Solem solar facility, the company revealed in a press release (PDF).
Mezquite is located in the state of Nuevo Leon in northeast Mexico and forms part of an 800MW portfolio of wind projects under development, which were acquired by Cubico from Banco Santander in 2015.
Solem is in the state of Aguascalientes in Central Mexico and is owned by Cubico and its partner Alten Energias Renovables.
Cubico said both projects represent a total investment of about US$ 700 million.
It will raise financing of US$ 500 million and will invest, along with its minority partners, the remaining US$ 200 million in equity to start the construction of the projects early next year and have them operational between 2018 and 2019.