Cubico Sustainable Investments is pleased to announce the signing of a Joint Venture Agreement with Mexico 's Federal Electricity Commission (CFE) , formalizing a long-term public-private partnership to develop 578 MWac of renewable projects in the country.
The agreement encompasses the five projects awarded to Cubico under the CFE's Mixed Investment Plan and represents a combined generation capacity of 578 MWac, along with a battery energy storage capacity of 175.7 MW for 3 hours (500 MWh).
This alliance represents a significant milestone for both Cubico and Mexico's energy sector, establishing a 25-year framework that will allow for investment of nearly $1 billion in new energy infrastructure, strengthen energy security, support the growing demand for electricity, and contribute to the country's continued economic and industrial development.
The projects are located in Tamaulipas, Nuevo León, Campeche, and the Yucatán Peninsula, regions that play an increasingly important role in Mexico's future growth. By increasing generation capacity in areas with growing demand from industry, businesses, and communities, the projects will boost economic activity while simultaneously promoting Mexico's energy transition and decarbonization ambitions.
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Construction of the first project, Altamira Solar in Tamaulipas, is expected to begin in December 2026, while construction of the remaining four projects is scheduled to begin during the second quarter of 2027.
Jens-Peter Saul, CEO of Cubico , said : “The signing of this agreement represents a significant milestone for us and demonstrates what can be achieved when the public and private sectors collaborate toward a common goal. Through this partnership, Cubico and CFE will contribute to developing the necessary infrastructure to meet Mexico’s growing energy needs, attract investment, and generate long-term value for communities across the country.”
“Mexico has been a strategically important market for Cubico for many years, and we are proud to deepen our commitment through a partnership that will deliver lasting benefits for the country’s energy security, economic development and decarbonization goals,” he added.
Osvaldo Rance, Cubico's National Director in Mexico, added: “This agreement represents the culmination of many years of work by our team in Mexico and marks the beginning of a new and exciting phase for these projects. We are now focused on execution and look forward to working closely with CFE, local communities, and stakeholders to ensure that these projects are developed safely, responsibly, and in a way that generates lasting benefits for the regions where we operate.”
This agreement further strengthens Cubico's position as a long-term investor and partner in Mexico. It also demonstrates the critical role that public-private partnerships can play in mobilizing the investment, expertise, and execution capacity needed to meet the country's future energy needs, while accelerating the deployment of new renewable energy capacity.