Hanwha Q Cells hires banker to sell Mexican solar plant

29 October 2019 - 12:00 am UTC

Hanwha Q Cells hired PC Capital to sell its 101MWac Laguna Solar plant in Mexico, said three sources briefed on the situation.

Hanwha Q’s US-based subsidiary 174 Power Global owns the plant.

PC Capital recently circulated teasers to potential investors.

174 Power Global signed a long-term USD 74m financing package with Bancomext and KDB in September 2018 to contribute debt to the USD 113m capex costs. Additionally, Bancomext granted a VAT facility for the equivalent of USD 20m.

The Laguna project received a 15-year power purchase agreement and 20-year clean energy certificates from the federal electricity commission (CFE) in Mexico’s second renewable energy auction in early 2017.

The project has committed to deliver 252,445 MWh of power per year at MXN 59.6m (USD 3m) for the first 15 years.

The La Laguna plant is located in the Santo Niño Aguanaval locality, in Matamoros in the northern state of Coahuila.

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