On the Yucatán Peninsula, in the Mexican state of Campeche near the border with Guatemala, a new energy project is taking shape. Copenhagen Infrastructure Partners, a Danish energy firm, has started building La Esperanza Solar, a solar and battery project set to supply clean power and stabilize the region’s electricity network. This project is in a part of the country where electricity demand is growing rapidly, putting pressure on existing infrastructure.
A major step in Mexico’s energy shift
La Esperanza Solar is one of the largest combined solar and battery storage projects in Mexico. The facility will combine 420 megawatts of solar power with a 150 MW/5-hour battery energy storage system. This setup will allow the project to store solar electricity during peak production times and release it when demand rises, which is especially important in a region where the weather and power supply issues have caused reliability challenges.
The project fits into Mexico’s national energy strategy and is recognized as a priority by the Ministry of Energy. It will supply power under a long-term agreement with CFE Calificados, the commercial division for large clients of the state-owned utility, Comisión Federal de Electricidad. This partnership aligns the project with the country’s goals to improve grid resilience and increase renewable energy capacity.
International and local players come together
Financing the project involves a USD 510 million loan package from a group of international and regional banks. These include BNP Paribas, JPMorgan Chase Bank, Natixis CIB, Santander, and Scotiabank. The equity for the project is being provided by CIP’s Growth Markets Fund II, with an expected additional investment from Profuturo, a large Mexican retirement fund. This collaboration highlights the project’s significance and the confidence of both global and local financial stakeholders.
Peter Halmø, who leads CIP’s Latin America operations, described the project as a key milestone. 'We've been active in Mexico for years,' he said, 'and this is our first to reach the construction phase. It shows the strong support we've received from partners and the quality of the project itself.' This milestone reflects the firm’s deepening commitment to the region.
A blueprint for emerging markets
CIP focuses on energy infrastructure in fast-developing economies, aiming to meet local needs while attracting global investors. The firm's strategy is to build high-quality infrastructure that supports energy transitions, offering both environmental and financial benefits. By combining solar generation with battery storage, CIP is helping to create a model for renewable energy development in regions with high growth potential.
When it becomes fully operational in 2028, La Esperanza Solar will join CIP’s projects across more than 30 countries. The project also supports Mexico’s efforts to modernize its electricity system and meet its climate targets. As part of the country’s growing renewable energy mix, it represents a step forward in the region’s energy evolution.