“This is a very important milestone that positions Cubico among the top players in the renewable energy sector in Mexico,” says Ricardo Diaz, head of the Americas at London-based Cubico.

He says Cubico will raise $500m financing for the projects and invest, along with its minority partners, another $200m in equity. Diaz did not name potential financing sources.

Mezquite is located in the state of Nuevo Leon in northwest Mexico and was part of an 800MW wind project portfolio Cubico acquired last year from Banco Santander.

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