The Federal Electricity Commission (CFE) has revealed plans to construct Latin America's first floating solar plant. The project, backed by a €150 million loan from the French Development Agency (AFD), will utilize water surfaces to install photovoltaic panels.

The floating plant is set to be located in either the state of Sinaloa or Coahuila, with feasibility studies currently in progress. Once completed, the project will boost renewable electricity generation by over 120 megawatts (MW). The CFE has emphasized that the plant will have a "low environmental and social impact" in the chosen areas.

The total cost of the plant has not been disclosed by the CFE. However, the AFD loan is set to cover a 15-year term, with two years of grace under "preferential" financial conditions. The loan also incorporates an 800,000 euro grant for technical cooperation to enhance the planning, evaluation, and integration processes of renewable plants into the National Electric System (SEN). This initiative is supported by the French company Electricity Transmission Network (RTE).

Over the past 13 years, the CFE and the AFD have established numerous credit contracts and technical cooperation agreements. These agreements, totalling around 800 million euros, have facilitated the development of significant renewable energy and energy efficiency projects.