SolFocus Inc., Mexican land and real estate developer Grupo Musa and U.S.-based energy developer Synergy Technologies LLC on March 29 said they are building a 450 MW solar power plant in Baja California near Tecate, Mexico.
The project will be built in 50 MW tranches, with construction on the first tranche starting in late 2012 and being operational before the end of 2013. The power plant, which will use SolFocus Concentrator Photovoltaic (CPV) equipment, will be owned and operated by SolMex Energy S.A. de C.V., the new company formed by Grupo Musa and Synergy Technologies for the production of solar energy in Mexico.
International financing corporation FINEXIM has allocated $720 million to the first four of nine 50 MW tranches of the solar project.
Read more new renewable projects news