The solar power project, which is located in Baja California near Tecate, will use SolFocus concentrator photovoltaic equipment.
The project will be developed in 50MW tranches and will be owned and operated by SolMex Energy, the new company formed by Grupo Musa and Synergy Technologies for the production of clean solar energy in Mexico.
The plant will incorporate 3,850 SolFocus SF-1136SX systems on the 122-hectare site.
SolFocus CEO Mark Crowley said "In the first year of operation we should deliver at least 120,000 megawatt hours of electricity to Baja California."
Construction on the first tranche will commence in late this year and will be operational before the end of 2013.
ProMéxico and Asian Pacific Development Corporation worked together to deliver the project including working with the Mexican government and facilitated engagement of international financing corporation FINEXIM for a commitment on debt financing.
FINEXIM managing director William Beilman said "After a year of full cooperation and collaboration between top executives at ProMéxico and the project team, FINEXIM has allocated $720 million to the first four of nine 50 megawatt tranches of the solar project."
