A new partnership has been formed between Schneider Electric, Greenwood Energy, and ILIOSS (a Mexican energy company based in Mexico City )to sell electricity from distributed solar power facilities to customers in Mexico.
The distributed solar systems will be built by ILIOSS and financed by Greenwood Energy. Once completed, the solar arrays will be owned by Greenwood. It is anticipated that they will be finished by 2017 at a cost of $500 million.
Greenwood Energy is the North and Latin American clean energy division of the Libra Group, which is an international business group focused on clean energy and a number of other fields like aviation, shipping, and real estate.
Solar energy’s future is incredibly bright in Mexico, and this partnership with ILIOSS further expands our presence in Latin America, one of the world’s fastest-growing energy markets. 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. — Camilo Patrignani, CEO of Greenwood Energy.
Schneider Electric is one of the oldest electric power providers in the world. In 2013, the company had over $3 billion in sales. Schneider will offer long-term sales contracts to customers for the power generated by the new arrays, and provide array components.
Arrays will be located at sites with more than 1,200 square feet of rooftop or parking spaces and with utility bills of more than 30,000 pesos.
“Mexico’s energy reform legislation is creating a highly competitive market for commercial power customers. Our partnership with Schneider is evidence of the demand for affordable, reliable, and low emission electricity,” said David Arelle, CEO of ILIOSS.
Mexico wants to generate 35% of its electricity from renewables by 2024. Two years ago, only 4% of its electricity came from wind, solar and geothermal, but wind and solar could grow rapidly.
As previously reported on Cleantechnica, Mexico does have a very impressive potential for solar power development: “Mexico’s average solar resources for PV (5 kWh/m2/day) are more than 60% higher than the best solar in Germany (5.4 GW of installed PV).”
Image Credit: Mitrush, Wiki Commons