From: Mercom India
Copenhagen Infrastructure Partners (CIP), through its Growth Markets Fund II, has reached financial close for the La Esperanza Solar project in Mexico.
Located in Campeche, Mexico’s Yucatán Peninsula, the project will comprise 420 MW of solar capacity and a 150 MW/750 MWh battery energy storage system.
La Esperanza Solar is CIP’s first investment in Mexico to reach financial close, with commercial operations expected in 2028. Construction of the project has begun.
The project has secured approximately $510 million in debt facilities from BNP Paribas, JPMorgan Chase Bank, Natixis Corporate and Investment Banking, Santander, and Scotiabank.
Equity is funded by the project owners: CI Growth Markets Fund II with a co-investment from Mexican retirement fund administrator Profuturo.
La Esperanza Solar has also secured a long-term power purchase agreement with CFE Calificados, the commercial arm of Comisión Federal de Electricidad serving large customers.
CIP said the project is being developed in coordination with the federal government and relevant authorities.
According to CIP, the battery storage system will support the reliability, resilience, and flexibility of the electricity system on the Yucatán Peninsula. The company said rising electricity demand in the region has increased the need for additional generation and storage capacity.
“We have been active in Mexico for several years, and this will be our first project in the country to start construction – a step that reflects both the strength of the team and project and the close collaboration with contractors, authorities, and partners. Pairing solar with battery storage is central to bringing more renewable energy onto the Mexican grid, and we are proud to help build a more reliable, lower-carbon power system,” said Peter Halmø, Head of Latin America and Managing Director at CIP.
Announced large-scale solar project funding increased by 71% in the first half of 2026 compared with the funding raised in the same period in 2025, according to Mercom’s recently released 1H and Q2 2026 Solar Funding and M&A report.
Recently, Avantus, a U.S. developer, owner, and operator of utility-scale solar and energy storage projects, has closed a $1.05 billion corporate credit facility to support the expansion of its renewable energy portfolio.
