Saudi firm to build solar project in Mexicoby Utilities ME Staff on Dec 28, 2016
Fotowatio Renewable Ventures (FRV), a developer of large-scale solar power plants and part of Saudi-based Abdul Latif Jameel Energy, has been awarded a 30-year 300MW solar project in Mexico.
With this build-operate-own agreement, FRV said it is extending its global footprint into the Mexican market at a rate of $26.99/MWh for the first 15 years of the project.
The construction of the plant will begin in mid-2018 and will become operational in mid-2019, and will create approximately 250 local jobs as part of the construction phase and a further 20 jobs during operations.
The plant will generate enough green electricity to supply approximately 76,100 homes, while reducing greenhouse gas emissions by approximately 97.7 million tons of CO2, the company said in a statement.
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