Chinese firm Risen Energy says it will invest $600 million in the construction of a 300 MW solar photovoltaic (PV) plant in Mexico after sealing a deal with officials in the state of Durango.
The project would represent the largest ever investment by China in Mexico as well as Risen's first step into the Latin American market, according to a report in the China Daily newspaper. Chile is also a target market for Risen, a director from the firm told China Daily.
Construction of the 300 MW solar farm would start within two months of a final contract being signed and the facility could be operational by the end of 2017, according to Risen, which has signed a letter of intent with the state of Durango after several years of negotiations.
Latin America is an attractive region for renewable energy firms due to favourable government policies and rising energy demand. Earlier this year Mexico passed new legislation to make its energy sector more attractive to private investors.
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