Denmark's CIP reaches financial close on 420MW solar-plus-storage project in Mexico, secures $510 million in debt financing

en.Wedoany.com Reported - Danish energy infrastructure investor Copenhagen Infrastructure Partners (CIP) has made a final investment decision and reached financial close on the La Esperanza Solar photovoltaic plus energy storage project in Mexico.

Located in the state of Campeche in the southeastern Yucatán Peninsula, the project features 420MW of solar PV capacity paired with a 150MW/750MWh battery energy storage system (BESS). The project has entered the construction phase and is expected to achieve commercial operation in 2028.

This marks CIP's first investment to reach financial close in Mexico, which the company views as a key milestone within its Latin American renewable energy portfolio.

Financing has been arranged through CIP's Growth Markets Fund II (GMF II). The project's debt financing amounts to approximately $510 million, provided by a syndicate of five international and regional commercial banks: BNP Paribas, JPMorgan Chase Bank, Natixis CIB, Santander, and Scotiabank. The equity portion is funded by project owner GMF II, with Mexican pension fund manager Profuturo expected to participate as a co-investor.

According to CIP, La Esperanza Solar has been granted priority project status by Mexico's Ministry of Energy (SENER) within the country's binding planning framework, and is currently being developed in collaboration with the federal government and relevant authorities.

CIP Partner Ole Kjems Sørensen stated that the project reflects CIP's long-term strategy of investing through its growth markets funds in rapidly emerging economies such as Mexico. Building high-quality energy infrastructure in these markets can deliver attractive returns for investors while helping to accelerate a cost-effective energy transition.