Polaris Renewable Energy Advances Mexico Projects with Mixed Investment Agreement

Polaris Renewable Energy Inc. has announced the execution of a Mixed Investment Agreement (CIM) for its three renewable energy projects in Mexico. This agreement, in collaboration with CFE and Banca Mifel, outlines a 30-year framework for development and operation.

The projects, part of Mexico's Mixed Development Program, include the 132.57 MW Los Girasoles, 91.06 MW Solar Energía Tres Hermanos, and 25.3 MW Don Humberto, with respective CAPEX estimates of $120 million, $78 million, and $19 million. Targeted commercial operation starts between 2028 and 2029.

The CIM is essential for finalizing other agreements, such as power purchase and maintenance agreements. This initiative contributes to Mexico's goal of adding 6,500 MW of renewable capacity by 2029, fostering economic relationships between CFE and private developers.