Greenwood Energy and Mexico-based renewable energy company ILIOSS have formed a partnership to develop over 250 MW of new solar photovoltaic projects in Mexico by 2017.
Under the partnership, ILIOSS will develop the projects and provide all engineering, procurement and construction services, as well as operations and maintenance services. Greenwood Energy will finance construction and own the projects once completed.
Once commissioned, electricity from the solar plants will be sold through long-term power purchase agreements.
Greenwood has undertaken multiple PV projects in Latin America this year and has a 2 GW pipeline in the region, primarily in Panama, Peru and Chile. ILIOSS focuses on commercial-scale rootop installations and is currently building 32.6MW of solar projects at several locations for a Mexican retail chain.
‘We envision helping unlock Mexico's potential as a major solar energy producer,’ says Camilo Patrignani, CEO of Greenwood Energy. ‘Each new solar system helps our customers reduce energy consumption and costs, while we contribute to helping Mexico reduce its carbon footprint and diversify its energy sources.’