Deals Counterparts

CFE develops Puerto Peñasco Solar Power Plant to finance electricity subsidy in Sonora

Development Solar announced Puerto Peñasco, Mexico Mar 5, 2026
1000 MW
Capacity
development
Stage
Central Fotovoltaica Puerto Peñasco
Project

The Comisión Federal de Electricidad (CFE) is developing the Puerto Peñasco Solar Power Plant in Sonora, Mexico, with an ultimate capacity of approximately 1,000 MW. The project's revenues, estimated at 1,750 million pesos, will finance the preferential electricity tariff subsidy for households in Sonora, replacing annual federal government negotiations. The first stage of 120 MW began operations in April 2023, with the second stage of 300 MW operational in September 2024, and a third stage of 300 MW expected by July 2027.

Get daily solar deal alerts — free, no spam.

Subscribe to access full counterpart details, deal analysis, and timeline.

Subscribe from €20/mo →

Deal Analysis

Mexico's state-owned utility, CFE, is developing a 1,000 MW solar plant in Puerto Peñasco, Sonora, with a novel financing model. Revenues from the project, estimated at 1,750 million pesos annually, will directly fund Sonora's preferential household electricity tariff, bypassing the need for annual federal government negotiations. While the full scope was announced in March 2026, the first 120 MW stage has been operational since April 2023. Another 300 MW stage is expected online by September 2024, with a third 300 MW stage planned for July 2027. This phased development by CFE aims to secure long-term, localized funding for a key social program.
  • CFE, Mexico's state-owned utility, is developing the 1,000 MW solar plant.
  • Project revenues of 1,750 million pesos will finance Sonora's electricity subsidy.
  • The full project was announced March 5, 2026, despite 120 MW being operational since April 2023.
  • A further 300 MW stage is expected online by September 2024.

Source Intelligence

KEY DETAILS

The project's commercial production is estimated to generate around 1,750 million pesos, which will be used to finance the preferential electricity tariff subsidy for households in Sonora. The first stage of 120 MW began operations in April 2023, generating clean energy for the city of Puerto Peñasco. The second stage, adding 300 MW, began operations in September 2024, delivering energy to Mexicali, Baja California. The third stage, also 300 MW, is expected to enter operations in July 2027. The project is part of the Plan Sonora de Energías Sostenibles. The governor also mentioned that the state will soon announce an additional gigawatt of solar capacity.

Capacity
hasta alcanzar aproximadamente 1.000 MW de capacidad instalada
Location
central fotovoltaica de Puerto Peñasco, proyecto desarrollado por la Comisión Federal de Electricidad (CFE) en el estado de Sonora
PPA Details
la producción comercial del complejo generará alrededor de 1,750 millones de pesos, monto que se destinará al financiamiento del beneficio tarifario para los hogares del estado.
COD
La primera etapa, de120 MW, entró en operación en abril de 2023
PARTIES MENTIONED IN SOURCE
C
Comisión Federal de Electricidad (CFE) developer

"proyecto desarrollado por la Comisión Federal de Electricidad (CFE)"

high quality Enriched Mar 9, 2026

Timeline

Announced
Mar 5, 2026
Signed
Closed

Get the full picture — timeline, source intelligence, and counterpart analysis.

Subscribe from €20/mo →
Track Solar deals