LatinNews Daily - 29 June 2023

In brief: Mexico’s CFE receives funding from France for solar park

*Mexico’s state-run electricity firm Comisión Federal de Electridad (CFE) has announced that it has received a loan of US$98.7m from France’s development agency (AFD) to develop a new solar park in Puerto Peñasco, Sonora state. In a statement, the CFE said the loan would be paid back over 20 years on a semi-annual straight-line amortisation format and under favourable financial conditions. The funding goes towards the first phase of construction of the Puerto Peñasco solar park, which will have an installed energy generation capacity of 120 megawatts (MW) for incorporation into the national grid. The four-phase project will have a final total capacity of 1,000MW. The CFE said the solar park was part of its strategy “to strengthen its capacity to generate electricity through clean and renewable sources, and thereby contribute to reducing greenhouse gas emissions and meet the commitments that the Mexican government has established with different international bodies in terms of sustainability and combating climate change”.

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