Mexican longs steelmaker Deacero has agreed to buy energy from IEnova for a period of 20 years, according to a press release.
Under the terms of the deal, Deacero will pay an undisclosed amount for a 20-year supply contract, in which IEnova, through its subsidiary ESJ Renovable II, will provide “energy, clean energy certificates, and capacity from a new solar power plant located in Caborca, [in the Mexican state of] Sonora.”
IEnova said it will develop, construct, and then operate its solar power plant in Caborca, also known as the 110 MW Pima Solar project. IEnova plans to invest $115 million in the project to supply energy to Deacero. IEnova added it expects the project to be ready by Q4 2018.
“IEnova will be responsible for all aspects of project implementation, including permitting, land and rights of way acquisition, engineering, procurement, construction, financing, operations, and maintenance,” the company said.