Partners Pursuing 40 MW Development in Mexico

Sun Pacific Holding Corp. says its National Mechanical Group (NMG) subsidiary and Soluciones De Energia Diversificada Internacional (SEDI), a subsidiary of Blissful Holdings LLC, has received preliminary funding terms and is proceeding with due diligence to build a 40 MW solar project in Durango, Mexico.

The partners have already executed land rights and power purchase agreements, as well as selected key manufacturers. Identifying a project funding source/partner is the latest milestone, and the companies will be making a site visit next month with that funding partner. The target for closing the financing is early 2020.

It is estimated that project funding will be up to $80 million. NMG and SEDI will own a 30% equity interest in the completed project.

“We are very pleased that we have identified and are starting due diligence with a potential funding source/partner for the project,” says Nicholas Campanella, CEO of Sun Pacific Holding. “We look forward to working with them as they move through their underwriting, analysis and site visits.”

The post Partners Pursuing 40 MW Development in Mexico appeared first on Solar Industry.

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