Washington, DC advises IFC on Mexico's first merchant solar farm

Press release - Business September 23, 2019

Our Washington, DC office represented The International Finance Corporation (IFC), member of the World Bank Group, and Banco Nacional de Comercio Exterior (Bancomext) in their financing of the 296 MW dc Potrero Solar facility being developed by Fotowatio Renewable Ventures (FRV).

This project is the first merchant solar farm in Mexico and the nation's second solar farm for IFC, which is the largest global development institution focused on the private sector in emerging markets. IFC and FRV reached a financial close with Banco Nacional de Comercio Exterior (Bancomext), and the plant it´s expected to be fully operational by mid-2020.

The Potrero Solar farm, located in Lagos de Moreno, Jalisco, México, will use bifacial photovoltaic (PV) modules, a new technology that has the ability to capture both direct sunlight from both the front and reflected light from the rear side.

When fully operational, the Potrero facility will generate approximately 700 GWh of clean energy each year and aims to reduce the emission of 345,000 tons of CO2 annually.

Our team, led by Sarah Devine (Washington, DC), included Jeremy Hushon, Rachel Crouch, Christa Maiorano and Dilpreet Minhas (Washington, DC).