Cubico Sustainable Investments and the Comisión Federal de Electricidad (CFE) signed a mixed-investment agreement worth nearly $1 billion in Mexico City on July 22. The deal will fund the construction of 578 megawatts (MW) of renewable generation capacity and 500 megawatthours (MWh) in battery storage across four Mexican states.

The five projects, awarded under CFE's mixed-investment scheme that allows private capital participation while maintaining state leadership, will operate as a 25-year public-private partnership. They are located in high industrial demand zones: Tamaulipas, Nuevo León, Campeche, and the Yucatán Peninsula. This represents one of the largest private alliances in clean energy with the Mexican state-owned enterprise, amid accelerated growth in electricity demand driven by manufacturing expansion and nearshoring in the country's north, according to [BNamericas](https://www.bnamericas.com/). The investment arrives at a time when energy security is a shared priority among Mexico, the United States, and Canada under the USMCA framework. It also addresses the need for new capacity in the National Electric System to sustain economic momentum.

Cubico, headquartered in London and owned by Canadian pension funds Ontario Teachers' Pension Plan and PSP Investments, will develop the five projects. The construction schedule begins with:

The portfolio totals 578 MWac of renewable capacity and 175.7 MW in batteries with three hours of autonomy (500 MWh), according to Cubico's press release. Jens-Peter Saul, CEO of Cubico, noted that the alliance demonstrates what can be achieved when public and private sectors collaborate.

Altamira Solar will break ground at the end of 2026 as the first project in the plan. When all five plants are operational, they will add generation and storage capacity to two of the regions facing the highest stress on the national electric grid: the northern industrial corridor, where nearshoring is driving a surge in demand, and the Yucatán Peninsula, which faces transmission constraints.

This article was drafted with AI assistance from verified sources and edited by a human before publication.