CIFI and Banverde close $57M credit for a rooftop solar facility in Mexico; increases capital raise to $76M

The investment round was led by Corporacion Financiera para el Financiamiento de Infraestructura (CIFI), with capital contributions from co-sponsors WRB Serra Partners and Banverde Activos, leading to a total deployment capacity of US$76 million in the next 3 years. As a result of the financing, Banverde estimates the installation of 80 MW in rooftop solar in Mexico that would lead to an approximate reduction of 65,000 tons per year in CO2 emissions. Banverde will use the funds to ramp up the pace at which it finances the acquisition of rooftop solar projects in Mexico with an installed capacity of up to 500 KW. The company’s mission is anchored on accelerating the transition to a sustainable future by the industrial and commercial sector in Mexico.