Product: Bridge loan
Role: Mandated lead arranger
Total project cost: USD 93.3MM
Environmental Category: B
Impact: 120,000 households benefited from clean energy access per year Financial clousure: 2017
CIFI provided a bridge loan in benefit of El Rollo Solar S.A.P.I. de C.V. and Juárez Renovables S.A.P.I. de C.V., both SPVs of de BAS Projects Corporation S.L. for the construction and commissioning of two photovoltaic plants (65 MW), related substation, transmission lines and soft costs.
KAIXO Solar is the largest self-supply solar farm in Mexico with an installed capacity of 65 MW, located in the municipality of Ascencion, approximately 30 km from Ciudad Juárez, Chihuahua State.
The project site is suitable for the generation of solar energy because it receives high solar irradiation and is located only 5km from the Conejo Medanos substation where it will interconnect to the electricity grid.
El Rollo and the Juarez Renovables facilities are being established under the laws administered by Mexico’s Energy Regulatory Commission (CRE) to promote “self-sufficient” alternative power production. Under the self-sufficient scheme, “the power producer must form a venture with its off-takers (self-supplied partners), whereby the off-takers must commit to purchase the entire power output of a plant under 15- to 20-year power purchase agreements.” BAS and Dominion have a contract in place to provide 100% of the power produced at the two adjacent facilities to the Mexican telecommunications company.
