Mexico adds a new renewable energy platform with a goal of exceeding 2 GW of capacity across solar, wind, and storage. Yeltica Energy , backed by Actis , starts with three solar-powered battery storage projects already awarded in the first mixed investment call by the Federal Electricity Commission (CFE).
The initial portfolio comprises approximately 330 MWp of photovoltaic capacity and 255 MWh of BESS (Bulk Energy Storage System). All three projects have 25-year power purchase agreements, denominated in US dollars and indexed to inflation, with CFE (Federal Electricity Commission) as the buyer.
Based on that foundation, Yeltica will seek to exceed 2 GW through two avenues: greater participation in future Mexican public tenders and the development of its own projects in conjunction with private developers and buyers.
The move also marks Actis' return to the Mexican renewable energy sector. The fund had already invested in the country through Zuma Energía and Atlas Renewable Energy and currently maintains exposure to the sector through Valia Energía , a 3.2 GW gas-fired power generation platform.
Since entering the Mexican market, Actis claims to have owned and operated 7.3 GW of generation capacity .
“Mexico is one of the most attractive infrastructure markets in Latin America,” said Alberto Estefan, CEO of Energy Infrastructure at Actis.
The executive focused on two factors that are reviving investment: the increase in electricity demand and a framework that seeks to incorporate private capital in the development of new capacity .
The new platform will be headed by José Luis García, who has more than 25 years of experience in energy and has already worked in Mexico at the head of Zuma Energía.
“Yeltica Energy is starting with a solid and promising project pipeline, an excellent start to achieving our ambitions,” García noted.
From 330 MW of solar power to a platform of more than 2 GW
Yeltica's objective goes beyond executing the three assets with which it begins operations.
The company will seek to build a diversified portfolio of solar, wind and storage , taking advantage of both public processes and opportunities developed directly with private actors.
The starting point coincides with a new phase for the Mexican electricity market. The 2025-2039 Electricity Sector Development Plan envisions approximately 75 GW of new gross generation capacity , of which nearly 80% would correspond to clean technologies, according to figures cited by Actis.
By 2030, Mexico also aims to add around 32 GW of new capacity , with about 22 GW coming from renewable sources , while seeking to increase the share of renewable electricity from approximately 20% to 38%.
It is within this growth that the new platform aims to position itself.
The initial award also provides a long-term contractual basis. The 25-year PPAs with CFE reduce some of the commercial risk of the initial projects and allow expansion to begin on assets that have already secured a monetization path.
Energy storage will be another key focus from the outset. The 255 MWh BESS associated with the three projects demonstrate that the strategy will not be limited to adding photovoltaic generation, but will also include capacity to displace energy and provide flexibility.
Actis also maintains another exposure to the growing Mexican electricity demand through investments in data centers via the Terranova and NextStream platforms.
With the first 330 MWp solar and 255 MWh of batteries awarded , Yeltica now begins the next stage: multiplying that portfolio to build a platform of more than 2 GW and compete for part of the new capacity that Mexico plans to incorporate during the next few years.