Saudi subsidiary FRV wins solar contract in Mexico
The construction of the solar plant in Mexico will begin in mid-2018 and will become operational in mid-2019
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 (BOO) agreement, FRV is extending its global footprint into the Mexican market at a rate of $26.99/MWh for the first 15 years of the project, Utilities ME reported.
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 tonnes of CO2, Utilities ME said citing a company statement.