Banverde
Opportunity
Mexico’s energy landscape is evolving. As electricity costs rise and businesses look for cleaner, more dependable power, distributed solar is emerging as a practical, scalable solution. Banverde saw a chance to bridge the gap. By acquiring and managing small solar plants, each up to 500 kW, they could provide renewable energy directly to commercial and industrial clients across the country. Their ambition was clear: create a network of up to 300 solar plants, totaling 20 MW, and make distributed solar an accessible option for businesses of all sizes.
Banverde set to collaborate with a vetted network of installers, ensuring each project met strict technical and environmental standards. Every plant underwent thorough checks, from financial feasibility to remote monitoring and on-site inspections. Installers guaranteed their work and a minimum energy output for five years, going above typical industry standards. Banverde’s team then managed each plant from acquisition to daily operations, ensuring consistent performance.
Mitigating risk was built into the company’s DNA. The portfolio would spread across regions and client types, limiting exposure to market or regulatory shifts. Plants would only be purchased once fully operational, removing construction uncertainty. Power purchase agreements (PPAs) would provide fixed prices and strong guarantees, while revenue would flow through a secure trust account to give lenders transparency and confidence.
Approach
CIFI joined the Banverde project in 2020 as lead arranger for a long-term senior syndicated loan of up to USD 52.5 million, structured in two tranches: Tranche A, denominated in USD for 17.8 million, and Tranche B, denominated in Mexican Pesos for up to USD 34.7 million. This funding supported the purchase of additional fully operational solar facilities, each already connected to the grid. CIFI committed USD 17.8 million through Tranche A and helped rally other local and international lenders over a 36-month syndication period. The financing formed part of a broader investment plan totaling USD 76 million, reflecting Banverde’s ambition to scale distributed solar across Mexico’s commercial and industrial sectors.
Beyond the numbers, CIFI’s involvement brought stability and confidence. By working closely with Banverde to align financing with the company’s growth strategy, CIFI ensured the loan structure could adapt to operational realities and market fluctuations. The partnership also emphasized sustainability: all projects followed best practices in environmental and social governance.
Outcome
The results quickly became tangible. By 2023, Banverde’s portfolio reached 2.75 MW of installed capacity, producing 2,414 MWh of clean energy and preventing around 1,000 tons of CO₂ emissions from entering the atmosphere. Over 1,100 people benefited from reliable, sustainable electricity, and the project supported 74 local jobs, nurturing technical skills and boosting the green energy workforce. Among the 24 employees and 50 contractors, 11 women hold key positions, reflecting Banverde’s commitment to inclusive growth.
Banverde’s approach demonstrates resilience and adaptability. By focusing on small and medium-scale plants, the company avoids many regulatory hurdles and can scale efficiently. Their transparent processes and high standards have attracted both investors and clients, positioning Banverde as a trailblazer in Mexico’s distributed solar sector.
More than just generating electricity, Banverde is shaping a model for accessible, sustainable energy. The company’s journey shows how strategic financing, local expertise, and operational excellence can combine to transform rooftops into power sources that fuel both businesses and communities. With CIFI’s support, Banverde is lighting the way to a cleaner, more resilient energy future, one plant at a time.
300
Plantas fotovoltaicas de generación distribuida proyectadas
20 MW
Capacidad proyectada
74
Empleos creados o sostenidos
