Atlas Renewable Energy is working with two banks to secure financing for a $350 million solar park project in Mexico.
The 444-megawatt La Pimienta solar park will also be paired with 2.17 kilometers (1.3 miles) of transmission lines and interconnection facilities and will be constructed in Mexico's Campeche state, according to bnamericas.
The investment arm of the International Development Bank (IDB) is planning to provide an A-loan of up to $50 million and a B-loan, which will help finance the project through international bond sales.
Mexican state-owned bank Bancomext is also considering providing bond financing.
According to IDB Invest, the project has a long-term power-purchase agreement with the government of Mexico, which is targeting 50 percent renewable energy by 2050.
In Mexico, IDB Invest funds projects in the financial sector, pr
