The SOWITEC Group has signed agreements for the sale of three solar projects in Mexico, with a total capacity of 570 MW, to a major international utility. The projects are part of a 1,000 MW portfolio, developed by SOWITEC in partnership, and are already at an advanced stage of development with all necessary environmental permits.
Details of sales contracts
SOWITEC has signed sales contracts for three solar projects in Mexico, for a total capacity of 570 MW, to a major international utility. The projects are part of a larger portfolio of 1,000 MW, developed by SOWITEC in partnership, and are already at an advanced stage of development with all necessary environmental permits. These projects are expected to be commissioned in 2025.
Long-standing contacts in the region
SOWITEC CEO Frank Hummel said that despite a challenging environment since 2018, the company has maintained its business in the Mexican market thanks to its longstanding contacts in the region. Although growth in Mexico’s electricity market has slowed in recent years, the private sector is expected to become more involved in expanding renewable energy by the next presidential election in 2024.
Investors prepare a large pipeline of projects
Although Mexico’s electricity market has experienced slower growth since 2018, many large investors are already preparing by selectively building a large pipeline of wind and solar projects in anticipation of renewed private sector interest in renewable energy by the next presidential election in 2024.
