Zuma Energía Grows in Mexico With Major Solar Park Acquisition

State Power Investment Corporation (SPIC), parent company of Zuma Energía in Mexico, has announced the majority acquisition of three solar parks in Chihuahua from InfraRed and INVEX. The remaining minority interests are owned by AINDA. The acquisition added 216MW to its installed capacity in the country, making SPIC-Zuma Energía the second-largest private company in renewable generation in Mexico.

In November 2020, SPIC successfully acquired Zuma Energía through CPIH. Negotiations and the final contract for the acquisition of Zuma Energía by SPIC were spearheaded by China Power International Holding (CPIH), a subsidiary of SPIC. "SPIC's investment in Zuma reflects our dedication and continuous support for clean and renewable energy generation, showcasing confidence in the Mexican economy. Zuma aligns seamlessly with our existing regional investments, contributing to operational and investment advancements in the region," said Qian Zhimin, President of SPIC, CPIHL.

Currently, SPIC-Zuma Energía operates in Sonora, Chihuahua, and Jalisco with solar parks, and in Tamaulipas and Oaxaca with wind parks. The company previously acquired the Jalisco-based Potrero Solar Park, which has a capacity of 296MW, increasing Zuma’s Mexican renewable energy portfolio.

SPIC has affirmed its commitment to collaborating closely with local governments and communities. The company underscored its objective to assist Mexico in lowering carbon emissions, advancing energy efficiency technology, and promoting the development of distributed generation (DG) and energy storage.

Potrero Solar, a major solar project in Mexico developed by Fotowatio Renewable Ventures (FRV), spans approximately 700ha in Lagos de Moreno. Equipped with bifacial modules capturing sunlight from both sides of the panels, the power plant stands as one of Mexico's largest solar ventures.

Besides the recently purchased parks in Chihuahua, the company is seeking opportunities in Puebla, Queretaro, Yucatan, and Monterrey with clean energy projects and investments in new business lines such as storage, electric vehicle solutions, solar panels, Smart Cities, and Smart Energy.