JCM Capital (JCM) announced today that it has established a company in Mexico to invest in utility-scale ground based solar photovoltaic (PV) projects. The company will focus on projects of 20MW and larger, and is actively seeking suitable project sites and development partners.
JCM is looking to invest with municipal and state governments to provide solar energy through direct Power Purchase Agreements. JCM will also partner with corporations to provide an alternative source of power at a competitive rate that will provide cost reductions over a 25-year period.
JCM will fund project specific development costs such as land acquisition, engineering, legal advisors, permitting and interconnection studies. JCM will facilitate sustainable economic development in an environmentally responsible way and bring cleaner, more affordable electricity to governments and businesses.
JCM’s Executive VP, Justin Woodward, comments that, “This company is a key part of our corporate strategy to grow our business internationally. We anticipate that Mexico will have explosive growth potential considering its high irradiance levels and the increasing cost of energy.”
JCM has a current target to fund and develop an initial 100MW of projects in Mexico. Michael Strait, JCM’s COO, comments, “JCM has the necessary capital, construction and long-term financial partners, as well as solar PV expertise to complement our local partners’ market knowledge and project management capabilities.”