DNV GL has reviewed an almost 900MW renewable portfolio in Mexico during technical due diligence for the acquisition of a 50%-share of the portfolio by Tokyo Gas. The acquisition is Tokyo Gas’s first investment in the Mexican renewable energy sector.
The portfolio comprises two onshore wind plants and four solar photovoltaic assets, totalling 898.7MW. Tokyo Gas and Engie have created a 50/50 joint venture to develop these renewable energy projects. The technical due diligence conducted included an independent assessment of the energy production for each wind and solar asset as well as reviews of the design and technology, permit status, available construction and operation agreements, and financial model assumptions.
