SkyPower announced last week that it will be forming a joint venture partnership with Grupo Uribe to develop solar energy in Mexico.
One of the world’s largest renewable energy developers, and the self-proclaimed world leader in solar PV development, SkyPower announced last week the formation of a joint venture with one of Mexico’s leading energy companies, Grupo Uribe. The Mexico-based energy company has over 50 years experience serving households, businesses, and industry throughout Mexico, and is a leader in the distribution of LPG in Mexico.
The resulting joint venture between the two companies is predicted to become the single largest developer of solar energy across Mexico, focusing on the “development of an integrated pipeline of utility-scale solar PV projects.”
“SkyPower is truly excited to be a part of this historical change in the energy sector for Mexico, which will undoubtedly create new jobs and stimulate economic growth and development in both rural and urban communities around the country,” said Kerry Adler, President and Chief Executive Officer of SkyPower.
“Grupo Uribe looks forward to this strategic partnership with SkyPower, a truly global company that is committed to deploying renewable energy solutions for Mexico,” added Fabian Uribe of Grupo Uribe. “Our collective strengths will allow us to harness the vast solar energy potential in Mexico with agility and speed.”
Mexico is a perpetual favourite amongst clean energy analysts, repeatedly being named as one of the most attractive countries for renewable energy investment and development. A May report from the International Renewable Energy Agency (IRENA) found that Mexico can increase its share of renewable energy producing energy for the country’s energy mix from 4.4% in 2010 to 21% in 2030, adding that Mexico can also increase the role renewable energy has for the country’s electricity sector by a whopping 46% by the same time.
Additionally, Mexico is sizing up to be a solar-development battlefield, with numerous companies eyeing Mexico as a new developmental and manufacturing location.
“This is another remarkable moment in the history of SkyPower and it makes me proud to see this joint venture between two incredible companies who are committed to making a positive difference in addressing issues related to climate change and providing access to electricity for those who need it the most,” said Charles Cohen, Executive Vice President and Global Head of Development at SkyPower.
SkyPower has an impressive track record, recently, of branching out of its North America–based position and looking further afield to emerging and developing markets. Late July saw SkyPower announce a $2.2 billion deal with the Kenyan Ministry of Energy and Petroleum for the development of 1 GW of solar projects over the next 5 years. SkyPower followed up the announcement with a gift of two million home solar kits to Kenyan residents that will allow many who have had no or limited electricity access to light, charging, radio, and more.