The bank has invested around MXN465m ($37m), which will be utilized in the construction of the 28.8MW hydroelectric project in Nayarit, reports the bloomberg.com.

Macquarie noted that the remaining 51% stake in the proposed project is held by its project partner Troy Energia.

In addition, Mexico-based Nacional Financiera Banca de Desarrollo will provide around MXN522m ($40.8m) in debt financing for the project.

Construction of the hydroelectric project, which is expected to begin in August 2013, is slated for completion in late 2015.

The electricity generated at the project will be purchased by a Mexican firm for 15 years. The details of the buyer are undisclosed.