Cubico Alten Aguascalientes Solar PV Project (IIC-12083-01)

  • Mexico
Where the impacts of the investment may be experienced.
Specific Location
El Llano, Aguascalientes
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • IDB Invest
  • Inter-American Development Bank (IADB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Bank Risk Rating
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Apr 11, 2017
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Cubico Alten Aguascalientes UNO, S.A.P.I. de C.V and Cubico Alten Aguascalientes DOS
The holder of the loan, grant, or other investment.
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 110.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 368.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IIC website

Updated in EWS Aug 23, 2018

Disclosed by Bank Mar 1, 2017

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Project Description

From the Inter-American Development Bank Invest (IDB Invest), formerly the Inter-American Investment Corporation (IIC):

The Cubico Alten Aguascalientes Solar PV Project consists of the design, construction, commissioning and operation of two solar photovoltaic (PV) plants with a combined capacity of 290 MW that will connect to the Mexican Comision Federal de Electricidad (CFE) national grid. The plants will be built in El Llano municipality, Sate of Aguascalientes, Mexico. The project includes two adjacent solar power plants (150-MW Solem I and 140-MW Solem II), two electrical substations, and a 6.6 km 230 kV power transmission line connecting both substations to the CFE.

All infrastructure will be built within a 963.7 ha area that will be purchased and leased by Cubico-Alten. The Project's Engineering, Procurement and Construction and Operation and Maintenance Contractor will be Grupo Ortiz.

The first of the two plants, Solem I, a 150MW PV plant will reach commercial operations date as per the PPA offer on September 30, 2018. The second plant, Solem II, a 140 MW PV plant should reach PPA COD on June 29, 2019. The PPAs were signed with the CFE, a government-backed institution. The Project will contribute to the Government of Mexico's objectives of diversifying its electricity matrix by delivering clean, PV solar energy and supporting the push to create a wholesale electricity market, while reducing the country's dependency on thermal energy, as Mexico's goal is for clean energy sources to provide 50% of the nation's electricity generation mix by 2050. When the Project is successfully completed, it will be the largest PV solar plant in Latin America and the Caribbean.

According to the IIC Environmental and Social Sustainability Policy, the Project has been classified as Category B, as the Project presents potential limited adverse environmental or social risks and/or impacts that are few in number, site-specific, reversible, and readily addressed through mitigation measures.

Investment Description
  • IDB Invest
  • Inter-American Development Bank (IADB)

The total project cost is approximately US$ 368,000,000. The financial plan is expected to include Inter-American Investment Corporation ("IIC") and Inter-American Development Bank ("IDB") A-loans for a joint amount up to US$110 million and a loan from the China Co-Financing Fund for Latin America and the Caribbean for up to US$50,000,000, with 20-year door to door tenors.The Project was awarded 20-year Power Purchase Agreements ("PPA") by the Mexican Federal Electricity Agency,Centro Nacional de Control de Energia (CENACE) for the Clean Energy Certificates and 15-year PPA for energy and capacity.

Private Actors
Contact Information


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