Vertex Companies Inc. Heads Up Latin America's Largest Solar Power Plant in Mexico
A 30-megawatt solar electric power plant, which will be one of the largest of its kind in Latin America, is planned for development in Zacatecas, Mexico.
The announcement came during a reception held late last month as part of the Massachusetts – Mexico Innovation Partnership Mission. The joint announcement was made by Massachusetts Gov. Deval Patrick and Zacatecas Gov. Miguel Alonso Reyes.
In Zacatecas, Vertex Cos. Inc. is collaborating with local Mexican partners to develop the first utility-scale solar PV project in the state and one of the largest in Latin America overall. The 30 MW ZacSol 1 project is the first phase of up to 90 MW that will be installed near the municipality of Guadalupe over the next several years. With an estimated $92 million investment in Zacatecas that will create approximately 400 construction and operational jobs, this first phase represents a significant step forward for Mexico in realizing their solar potential.
Mexico has progressive renewable energy policies, high fossil-based electricity prices, and the third highest solar insolation in the world. According to the Inter-American Development Bank, Mexico has a potential for 45 GW of solar energy. SENER, Mexico's Energy Department, recently reported that solar PV projects are profitable without government subsidies with Northern and Central Mexican projects typically breaking even after only two years.
The Vertex Cos. Inc., headquartered in Weymouth, Mass., is a leading partner in the development of the solar power plant. Vertex has consulted for both U.S. and Mexican businesses including Comisión Federal de Electricidad, Mexico's government-owned utility.