Midamerican Energy Center announced on Wednesday it has committed $1.5 billion in a $3 billion project to build two solar energy projects in Mexico.
The investment is part of the company’s strategy to expand its solar portfolio in the country.
Alliant said it would invest $400 million in a solar power plant and $100 million in an advanced battery facility in the state of Puebla.
“We are committed to our customers and are excited to see what Mexico has to offer in terms of solar and energy storage,” said Alliant’s chief financial officer John Kostiou.
“This investment will create thousands of new jobs and will be an important component of Alliant energy portfolio in Mexico.”
The two projects are part of a $2 billion investment announced in May by the company in the solar sector.
The new plant is expected to generate 1,500 megawatts of electricity, according to Alliant.
The facility is expected be able to produce 3.3 megawatts.
“The new solar energy plant is the largest ever investment in Mexico and it will create hundreds of new high-paying jobs,” said Javier L. Perez, president of Allianz’s Latin America business unit.
“These projects will enable Mexico to continue its long-term development in this key sector.”
The project in Pueblo, a city with a population of 6,000 people, is part and parcel of a plan Alliant launched to build and scale up its solar and battery investments.
The solar project will be built in the municipality of La Palma and the battery plant will be in the city of Chula Vista.
Mexico has one of the world’s highest per capita solar energy production rates and is a leader in the development of battery storage technology, which uses batteries to store electricity.
The country has also been a major producer of solar energy, with more than 40 percent of the country’s installed capacity.