Fotowatio Wins 300 MW Solar In Mexico Auction At US¢2.69/kWh

Spanish renewable energy project developer Fotowatio Renewable Ventures recently a major win in the competitive auction held in Mexico few weeks back.

Fotowatio Renewable Ventures (FRV) announced that it has been awarded a 300 MW solar power project in the second competitive auction held for renewable energy project in Mexico in September this year.

The company managed to secure the project at one of the lowest levels across the world as the Mexican auction was highly competitive. FRV placed a successful bid of US¢2.699/kWh for the solar power project. The lowest-ever solar power bid for a project remains US¢2.42/kWh by JinkoSolar-Marubeni consortium for 800 MW phase 3 of Dubai solar power park.

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 also generate enough green electricity to supply approximately 76,100 homes, while reducing greenhouse gas emissions by approximately 97.7 million tons of carbon dioxide emissions.

According to National Energy Control Center (CENACE) of Mexico, solar dominated the Mexico’s second power auction with more than half of the total amount of energy awarded to solar PV projects. Under the auction, 4.8 TWh of energy (54%) and 4.9 million clean energy certificates (53%) were provisionally awarded to solar PV projects.

In total, 9.3 TWh and 8.9 million clean energy certificates were awarded to solar, wind, geothermal and hydroelectric projects. Wind energy projects constituted 43% of total energy awarded and 41% of clean energy certificates.

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