Mexico’s González Calvillo guides IEnova in DFC loan
Mexican law firm González Calvillo has supported IEnova in its procurement of a $241 million loan from the International Development Finance Corporation (DFC)
IEnova is the Mexican unit of US company Sempra Energy, and which builds and operates natural gas pipelines and renewable energy projects in Mexico.
The unsecured loan will be used to support IEnova’s development and construction of four solar power plants in Mexico totaling 426 megawatts of aggregate nameplate capacity, according to a statement by the DFC.
The project is expected to have a highly developmental impact through support for expanded private electric power supply in Mexico delivered by renewable power generation, the DFC said.
“The solar plants under the project represent early private investment in electric generation under the electricity market reforms enacted by the government between 2015 and 2018. Mexico has a significant shortage of electric capacity relative to projected demand, with demand expected to increase by upwards of 50 per cent by 2029. Additionally, much of the growth in supply will likely need to be from solar generation under the Mexican government’s targets for clean energy,” it added.
The law firm’s team was led by partner Rodrigo Rojas (pictured), with senior associate Daniela Guaida.
