Polaris Renewable Energy secures mixed investment agreement for 250MW/192MWh solar-plus-storage portfolio in Mexico
Type: Investment · Technology: Hybrid · Country: Mexico · Capacity: 250 MW · Value: $217M · Announced: 2026-07-08
Canada-based Polaris Renewable Energy executed a mixed investment agreement for a 250MW solar-plus-storage portfolio in Mexico, comprising three projects awarded under the Comisión Federal de Electricidad (CFE) Mixed Development Program tender in June 2026. The portfolio includes Los Girasoles in Quintana Roo (132.6MW solar PV and 33MW/101.5MWh BESS), Solar Energía Tres Hermanos in Tlaxcala (91.06MW solar PV and 22.5MW/71.6MWh BESS), and Don Humberto in Sinaloa (25.3MW solar PV and 6.1MW/18.9MWh BESS), with a combined capital expenditure of USD 217 million. All projects are expected to commence commercial operations in 2028 under 25-year power purchase and tolling agreements with CFE. The financing was structured through Banca Mifel as fiduciary trustee on behalf of CFE, marking Mexico's largest renewables and energy storage procurement initiative. Polaris CEO Marc Murnaghan highlighted the deal as a milestone in advancing the company's pipeline across Latin America while supporting Mexico's energy transition.
Counterparties
- Banca Mifel, Institucion de Banca Multiple, Grupo Financiero Mifel (Lender)
- Comisión Federal de Electricidad (Offtaker)
- Polaris Renewable Energy (Developer)