Natixis Corporate & Investment Banking Supports CIP in $510 Million Project Financing in Mexico
Natixis Corporate & Investment Banking (Natixis CIB) is collaborating with Copenhagen Infrastructure Partners (CIP) as Joint Bookrunner, Joint Lead Arranger, and Green Loan Coordinator for a $510 million project financing for the La Esperanza Solar project. This utility-scale hybrid solar and battery energy storage initiative aims to enhance energy supply and reliability in the Yucatan Peninsula.
The La Esperanza project has been designated as strategic by Mexico's Ministry of Energy (SENER). It is anticipated to aid in grid decongestion and address growing energy demand, with a capacity of 420 MWdc of installed solar photovoltaic technology and a 150 MW / 5-hour battery energy storage system that will provide flexibility and resilience to the energy network.
Nasir Khan, Head of Real Assets and Global Trade Americas at Natixis CIB, commented on the project, stating, "We are pleased to support Copenhagen Infrastructure Partners on this milestone transaction for one of the first projects designated as strategic by Mexico's Ministry of Energy. La Esperanza will bring clean, affordable, and reliable energy to the Yucatan Peninsula."
Copenhagen Infrastructure Partners (CIP) is a prominent global fund manager and investor in energy infrastructure, managing approximately €37 billion across 15 funds that invest in various sectors including solar and wind power, energy storage, transmission and distribution, advanced bioenergy, low-carbon fuels, and carbon capture.
Peter Halmø, Head of Latin America and Managing Director at CIP, remarked, "This is a major milestone for GMF II and our team. We have been active in Mexico for several years, and this will be our first project in the country to start construction – a step that reflects both the strength of the team and project and the close collaboration with contractors, authorities and partners. Pairing solar with battery storage is central to bringing more renewable energy onto the Mexican grid, and we are proud to help build a more reliable, lower-carbon power system."