Cubico Sustainable Investments and Mexico's state-owned CFE have formed a joint venture under a US$1 billion framework to develop 578 MWac of renewable energy capacity and 500 MWh of battery storage across several Mexican states. The 25-year public-private partnership follows the country's March 2025 Secondary Energy Legislation and covers five projects previously awarded to Cubico through CFE's Mixed Investment Scheme.
The initiatives will be built in Tamaulipas, Nuevo Leon, Campeche, and the Yucatan Peninsula to help meet rising electricity demand linked to nearshoring and industrial growth. Construction on the first project, the Altamira Solar farm in Tamaulipas, is set to begin in December 2026, with work on the remaining four projects scheduled for the second quarter of 2027.
The Altamira Solar farm represents a US$100 million investment and will provide 100 MW of capacity. Preparatory work is underway, including the recent installation of a solar resource measurement tower on more than 180 hectares of private land in the Puerto Altamira area in collaboration with Tamaulipas state authorities and local government. Data from the tower will inform optimal panel placement and electrical design ahead of construction.
