Schneider Participates in Mexican Distributed Solar Venture
Schneider Electric is partnering with Greenwood Energy and ILIOSS to sell power from 250 MW of new distributed solar energy installations to commercial customers across Mexico.
In August, Greenwood and ILIOSS first announced their $500 million investment to deliver 250 MW of new solar power capacity across Mexico.
Greenwood-ILIOSS will finance and build the solar arrays at commercial locations across the country and will own the installations once they are operational. Schneider will supply most of the array components and offer long-term sales contracts for electricity generated by the projects to commercial energy customers with no up-front or maintenance costs.
Locations with at least 1,200 square feet of rooftop or parking surfaces and a monthly utility bill of more than $2,220 are eligible for the contracts. Customers in the country’s Federal District and State of Mexico will save an estimated 20 percent compared to their current power costs, while customers in the remaining 19 states will save an estimated 17 percent, according to the partners.
Schneider Electric says the partnership positions it to respond to new opportunities that will arise in Mexico with the recent approval of energy reform.
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