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Mexico. – X-Elio closes 37.45 million financing with IFC and Sabadell for a 119 MW solar power plant in Mexico

08-24-2020 X-Elio PV Power Project ECONOMY X-ELIO

Madrid, 26 (European Press)

X-Elio has entered into a $44.1 million (about €37.45 million) financing agreement with the International Finance Corporation (IFC), a member of the World Bank Group, and Banco Sabadell in Mexico, to build, operate and manage a 119 megawatt (MW) solar photovoltaic power plant in the country. , the company said.

Specifically, the plant, called “Perote II,” will be located in the municipality of Perote, in the Mexican state of Veracruz. This project will help reduce emissions equivalent to four million tons of carbon dioxide into the atmosphere over the next 35 years.

The Renewables Group highlighted that this agreement demonstrates its ability to “get financing from high-level partners, as well as the strength of its projects and business model in the country”, where it has been in place since 2015 and currently has 535 MW. A group of running projects.

X-Elio’s chief financial officer, David Diaz, was “very proud” of the trust IFC and Banco Sabadell in Mexico placed in the group and stressed that they would continue to “leverage their experience and knowledge to create value for the local community.”

For his part, CEO of Banco Sabadell Mexico, Francisco Lira, noted that sustainability “is at the heart of the Entity’s Business Strategy, which is why we are very proud to be part of a project aimed at ensuring Mexico’s energy security with clean energies”.

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