INVEX to exit 216-MWp solar portfolio in Mexico

Mexican financial holding company INVEX Controladora SAB de CV (BMV:INVEXA) announced it has agreed to sell its remaining stake in a portfolio of six solar farms with a combined capacity of 216 MWp in northwestern Mexico.

The transaction concerns a shareholding of 25.7% worth USD 50 million (EUR 46.2m) as of the end of the second quarter of 2023, according to a recent statement.

The portfolio, dubbed Jaguar Solar, is located in the state of Chihuahua.

The transaction hinges on regulatory clearance. The proceeds from the divestment will be used to reduce debt and possibly make new investments.

Jaguar Solar was a partnership of three investment companies -- Infrared Capital Partners, INVEX Grupo Infraestructura and Ainda.

INVEX has been gradually trimming its stake in the portfolio. Last year, it concluded two separate transactions to sell interests of 6.4% and 0.6% for USD 11.3 million and USD 1.1 million, respectively.

(USD 1 = EUR 0.924)

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