Copenhagen Infrastructure Partners completes financing for La Esperanza solar project in Mexico

Copenhagen Infrastructure Partners (CIP), through its Growth Markets Fund II, has reached a final investment decision and financial close for the La Esperanza solar project in the state of Campeche on Mexico’s Yucatán Peninsula. The 420 MWdc photovoltaic plant will be paired with a 150 MW/750 MWh battery energy storage system, one of the largest in Mexico, to enhance grid stability and provide up to five hours of storage. The $510 million debt package is being provided by a consortium of BNP Paribas, JPMorgan Chase, Natixis CIB, Santander and Scotiabank, while equity comes from CI Growth Markets Fund II and a co‑investment from Mexican pension‑fund manager Profuturo. Construction is already under way and commercial operation is expected in 2028. The project has been designated a priority by Mexico’s Ministry of Energy and is intended to strengthen the reliability, resilience and flexibility of the regional electricity system. Peter Halmø, Head of Latin America and Managing Director at CIP, said: “This is a major milestone for GMF II and our team… Pairing solar with battery storage is central to bringing more renewable energy onto the Mexican grid.”