SOWITEC RECEIVES AN ENVIRONMENTAL PERMIT FOR 200 MEGAWATT SOLAR PARK IN MEXICO
Sonnenbühl, November 16, 2018 – The SOWITEC Group, one of the leading developers of renewable energy projects in the wind and solar sectors, has received an environmental approval for its solar park in the state of Chihuahua in Mexico, thus reaching an important milestone in the project development. With a plant capacity of 200 megawatts, the project is one of the largest in Mexico. The solar park will generate 500 GWh of electricity per year and contribute to avoiding 250,000 t CO2. The entire project development, including the environmental study, was carried out by SOWITEC Mexico. The next step is the preparation for participation in an auction in order to secure a power purchase agreement. Commissioning is expected to take place within the next two years.
The 200 MW solar park in Chihuahua is the third solar project in Mexico for which SOWITEC has received an environmental approval in recent months. Already in July the approval for a 300 MW solar park in Durango was granted followed by another one in August for another project with 200 MW in Sonora. SOWITEC has been very successful in Mexico for the last 10 years. With over 1,000 MW of installed capacity and additional 200 MW under construction, SOWITEC is one of the most successful renewable energy project developers on the Mexican market with a market share of over 20 %. SOWITEC holds a subsidiary in Mexico City with over 40 experienced employees who will develop a wind and solar pipeline of more than 5,000 MW. Around 1,000 MW thereof have already been contractually agreed with investors.
Mexico is now one of the world's most attractive markets for renewable energies. Since the implementation of the energy reform in 2015, auctions for renewable energies with an annual volume of 1,500 - 2,500 MW have been held on a regular basis. Furthermore, there is a significantly growing interest of large industrial energy consumers to enter into direct power purchase agreements with the operators of wind and solar projects, since the generation prices for electricity from sun and wind are less than 20 Euro per MWh and thus well below the national electricity prices.
SOWITEC expects further growth in the renewable energy sector in Mexico in the future and will therefore continue to work on the expansion of its pipeline. "Being one of the leading renewable energy project developers in Mexico, SOWITEC is well positioned for the coming years. The interest of investors in projects in Mexico is extremely high and the numerous negotiations with large investors on individual projects, pipelines and joint ventures show us the great confidence in our quality and experience", says Managing Director Frank Hummel.
About SOWITEC:
As one of the globally leading project developers for renewable energies, SOWITEC is active in 14 countries with a focus on the rapidly growing emerging and developing countries. With almost 200 employees, SOWITEC covers all areas of solar and wind power project development: from planning and conception, yield and profitability calculations, construction management, sales and financing to technical and commercial management of wind and solar parks. Almost 60 wind and solar projects developed by SOWITEC with over 2,700 MW are currently in operation or under construction in eight countries.