June 11 (Renewables Now) - Atlas Renewable Energy said on Monday it has inaugurated its 129-MWp Guajiro solar project in Mexico's Hidalgo state.
The Guajiro Solar Plant, as it is named, is the firm's first solar energy project in the Latin American country. Atlas invested more than USD 118 million (EUR 104.2m) in the development of the plant, with support from Banco de Comercio Exterior (Bancomext), which provided a USD-88.5-million long-term financing.
Located in a 410-hectare area in Nopala de Villagran, the photovoltaic (PV) power plant consists of more than 370,000 panels and is expected to produce 300 GWh a year, enough to meet the power needs of about 120,000 homes, according to the announcement.
Guajiro has a power purchase agreement (PPA) in place with the Federal Electricity Commission (CFE).
Atlas Renewable Energy intends to add a further 1.5 GWh to its investment portfolio over the next three years throughout Latin America.
(USD 1 = EUR 0.88)