Copenhagen Infrastructure Partners (a global leader in renewable energy investments) has reached financial close on La Esperanza Solar, a large-scale solar photovoltaic and battery energy storage project in the state of Campeche on Mexico's Yucatán Peninsula, marking the Danish fund manager's first project in the country to begin construction.

The milestone, announced on August 6, 2026, represents a significant step in CIP's expansion across Latin America through its Growth Markets Fund II vehicle.

Project Scale and Technical Specifications

La Esperanza Solar is a 420 MWdc solar photovoltaic project paired with a 150 MW battery energy storage system capable of providing five hours of storage, giving the project a total storage capacity of 750 MWh. CIP describes the battery component as one of the largest of its kind in Mexico.

The combination of solar generation and extended storage capacity is intended to address rising electricity demand across the Yucatán Peninsula, where the need for new power generation and dispatchable storage has grown. Commercial operations are anticipated in 2028, with construction now underway.

The project is located in Campeche, a state on Mexico's Yucatán Peninsula, and has been recognised as a priority project by Mexico's Ministry of Energy, known as SENER, under the country's binding energy planning framework. Development has taken place in close coordination with the federal government and relevant regulatory authorities.

Financing Structure and Lending Consortium

The project financing totals approximately USD 510 million in debt facilities, provided by a consortium of five international and regional commercial banks: BNP Paribas, JPMorgan Chase Bank, Natixis CIB, Santander, and Scotiabank.

Equity financing is funded by the project owners, with CI Growth Markets Fund II as the primary equity holder and an expected co-investment from Profuturo, described as a leading Mexican retirement fund administrator.

The debt package represents one of the more substantial project finance transactions in Mexico's renewable energy sector and spans both global banking institutions and regional lenders with an established presence in Latin American infrastructure markets.

Offtake Agreement and Government Backing

La Esperanza Solar is backed by a long-term Power Purchase Agreement with CFE Calificados, the commercial branch of Comisión Federal de Electricidad that serves large clients. CFE is Mexico's state-owned electricity utility, and the PPA provides the project with a contracted revenue stream over the long term.

The agreement reflects the project's integration into Mexico's national energy planning framework, and CIP stated that the project embodies a shared commitment between the firm and the Government of Mexico to strengthen the country's National Electricity System through investment in strategic energy infrastructure.

Peter Halmø, Head of Latin America and Managing Director at CIP, said the project reflects both the strength of the team and close collaboration with contractors, authorities, and partners.

"Pairing solar with battery storage is central to bringing more renewable energy onto the Mexican grid, and we are proud to help build a more reliable, lower-carbon power system," he said in a statement accompanying the announcement.

Strategic Context for CIP's Growth Markets Fund II

La Esperanza Solar is the latest transaction to reach financial close under CIP's Growth Markets Fund II, a vehicle designed to invest in renewable energy infrastructure across fast-growing emerging economies.

Ole Kjems Sørensen, a Partner at CIP, said the project reflects the long-term strategy underpinning the Growth Markets fund series. "By building high-quality energy infrastructure in these markets, we can deliver attractive returns for our investors while helping accelerate a cost-efficient shift energy transition," he said.

CIP has been active in Mexico for several years, and La Esperanza Solar represents the first of those investments to reach the construction stage. The firm's Growth Markets Fund II has also recently closed financing on other projects in separate geographies, including a 392 MW onshore wind farm in Romania called Pestera II, which CIP noted was one of the largest project finance transactions in Central and Eastern Europe's renewables sector.

CIP's Broader Portfolio and Operational Footprint

Founded in 2012, Copenhagen Infrastructure Partners manages 15 funds and has raised approximately EUR 37 billion to date from more than 200 institutional investors globally.

The firm employs more than 2,300 professionals across a network of offices in over 30 countries. Its investment scope covers power generation technologies, including solar and wind, energy storage, transmission and distribution infrastructure, advanced bioenergy, low-carbon fuels, and carbon capture.

The La Esperanza Solar financial close adds to CIP's portfolio in Latin America and demonstrates the firm's stated intention to deploy capital into markets where electricity demand growth and energy transition objectives create openings for large-scale infrastructure investment.

The project's battery storage component, in particular, positions it as a contributor to grid stability in a region that has faced challenges managing increasing power demand alongside the integration of variable renewable generation.

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