Mexico’s state-owned electric utility CFE said it landed a 15-year financing deal for €150 million ($161 million) from French development agency AFD.
CFE will use the proceeds to finance the construction of a floating solar power plant in the northern states of Sinaloa and Coahuila, it said in a press release on Tuesday.
The project will add more than 120 MW of power generation and will be the first floating solar plant in Latin America, according to CFE.
AFD is a recurring lender to CFE for renewables. It provided $98.7 million for a solar plant in June last year and €200 million ($220 million) in October 2021 to finance hydroelectric plant upgrades.
