Madrid, December 12, 2019.- Solar PV developer Dhamma Energy has secured the environmental permits for three large solar plants in Mexico, with a combined capacity of 554 MWp.

The three projects, located in the central part of the country, now have most of the permits required for their construction and are expected to reach ready-to-build status by mid-2020.

Dhamma Energy is committed to the Mexican solar market, where it currently holds a solar portfolio of 2 GWp of projects at different stages of development.

To date, Dhamma Energy has fully developed solar plants totalling 470 MWp in Mexico, located in the states of San Luis Potosi, Guanajuato, Sonora and Aguascalientes. Most of the projects are expected to come online in 2019 and 2020.

Construction of the 119 MWp Horus solar plant began recently in Aguascalientes. The project was developed by Dhamma Energy and acquired by Canadian Solar. Dhamma Energy originated the project in 2014 and managed the development until the ready-to-build phase.

“We celebrate the advances in our solar portfolio in Mexico and the start of the construction by Canadian Solar of the 119 MWp Horus solar plant, which was developed by Dhamma Energy. We see the fruits of our work in the Mexican market, where we have been active since 2013,” said cofounder of Dhamma Energy Philippe Esposito.

The portfolio and the plants developed by Dhamma Energy correspond to projects that sell the energy produced to private companies or to the market. The Horus project is the only solar plant developed by Dhamma Energy under a public auction scheme in the Mexican market. Public renewable energy auctions took place in Mexico between 2015 and 2017.

“Mexico is already a mature market for renewable energy. Several market mechanisms enable the deployment of renewable energy, such as different PPA structures, electricity sale in the wholesale market and private auctions. We see good potential due to the drop in the price of solar energy, the increase of the demand for electricity and the need to shift to renewable energy,” added Philippe Esposito.

Dhamma Energy, headquartered in Madrid (Spain), develops and operates solar pv projects in Europe, Latin America and Africa. The main markets for the company are currently Mexico, France and Spain.

Credit of the picture: Samuel Duplaix

Picture: a solar park in France

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