Another solar pipeline in Mexico secures multilateral backing

Energy company IEnova has secured funding for a large-scale, 376MW solar pipeline in Mexico, with support from the World Bank’s International Finance Corp. and the North American Development Bank. The development banks will contribute US$200 million in green loans for the pipeline, which includes the already-operational Pima Solar 110MW plant. This project represents U.S. subsidiary IEnova’s first solar venture, and is expected to help Mexico cut annual greenhouse gas emissions by more than 500,000 CO2-equivalent tonnes. This project also marks just one of more than a half-dozen solar projects in Mexico this year.