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Cubico energizes 600-MW Mexican renewables portfolio

Cubico Sustainable Investments has energized 600 MW of renewable energy capacity in Mexico.

The projects include the 250-MW Mezquite wind farm in Nuevo León and the 350-MW peak Solem solar photovoltaic project in Aguascalientes. The output and the clean energy certificates will be sold to the Mexican state-owned utility CFE's basic supply arm.

"These projects are honoring all their obligations under the power purchase agreements awarded in Mexico's second long-term electricity auction in September 2016," Cubico Head of Mexico Osvaldo Rancé said in an Oct. 2 release.

Cubico has another two other wind projects in Mexico in advanced stages of development with a capacity of 400 MW, which are expected to reach ready-to-build status during the first half of 2020 and achieve operations in 2021.

The company is a renewable energy investor backed by two of Canada's largest pension funds, Public Sector Pension Investment Board and Canada Pension Plan Investment Board.