Polaris Renewable Energy signs 30-year mixed investment contract with CFE for 249 MW solar and 192 MWh battery storage projects in Mexico

Type: Partnership · Technology: Solar, Storage · Country: Mexico · Capacity: 249 MW · Value: $217M · Announced: 2026-07-03

Polaris Renewable Energy signed a 30-year Mixed Investment Contract (CIM) with Mexico's state-owned utility CFE on July 3, 2026, establishing a joint framework for the development, financing, construction, ownership, and operation of three renewable energy projects. The portfolio includes 248.93 MWdc (204.2 MWac) of solar capacity and 61.6 MW / 192 MWh of battery storage, with an estimated investment of $217 million excluding interconnection and grid upgrade costs. The largest project, Los Girasoles in Quintana Roo, includes 132.57 MWdc solar and 33 MW / 101.5 MWh storage, targeting commercial operation by November 28, 2028, with annual generation of 249,239 MWh. In Tlaxcala, Solar Energía Tres Hermanos will deliver 91.06 MWdc solar and 22.5 MW / 71.6 MWh storage, aiming for December 1, 2028 startup and 198,485 MWh annual output. The Sinaloa-based Don Humberto project features 25.3 MWdc solar and 6.1 MW / 18.9 MWh storage, with commercial operation targeted for April 1, 2028 and 47,173 MWh annual generation. Banca Mifel serves as fiduciary for CFE in the transaction, while Polaris will finalize definitive agreements including PPAs, trust contracts, and operation and maintenance terms. Energy and storage pricing will be updated once interconnection and grid reinforcement costs are incorporated into project budgets.

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