Polaris Renewable Energy Advances Three Mexico Solar and Battery Projects Under Landmark Mixed Development Program
Polaris Renewable Energy Advances Three Mexico Solar and Battery Projects Under Landmark Mixed Development Program
Polaris Renewable Energy Inc. has announced that three company-owned renewable energy projects in Mexico have been selected to move forward under the countryâs Mixed Development Program, a major public-private initiative led by Mexicoâs energy authorities. The projects include about 250 megawatts of solar power capacity and more than 180 megawatt-hours of battery energy storage systems.
A Major Step for Renewable Energy in Mexico
The selection marks an important milestone for Polaris as it works to expand its clean energy platform across Latin America and the Caribbean. The three projects were submitted through a national competitive process launched in February 2026 and reviewed under guidelines published by Mexicoâs Secretary of Energy, known as SENER.
According to the announcement, Mexicoâs Federal Electricity Commission, or CFE, and SENER completed the first national selection process under the Mixed Development Program on June 5, 2026. The final award volume was about 8,000 megawatts, exceeding the programâs original target.
What the Selected Projects Include
Polaris said all three of its submitted projects were selected to advance to the final contract negotiation stage with CFE. Together, the projects are expected to support Mexicoâs electricity system through new solar generation and battery storage capacity.
The battery systems are especially important because they can help store solar power and improve grid reliability. This is useful in regions where electricity demand is rising due to industrial growth, business activity, and household needs.
Final Agreements Expected by July 2026
The projects will now move toward negotiation and execution of final agreements. These may include power purchase arrangements, shareholder agreements, and governance structures. CFE has indicated that definitive agreements are expected by the end of July 2026.
Once the contracts are finalized, Polaris said it plans to provide more details about estimated capital costs, construction schedules, and project timelines.
Why the Mixed Development Program Matters
The Mixed Development Program is described as Mexicoâs largest renewable energy and storage procurement initiative. It is designed to bring together CFE and private developers to finance, build, operate, and maintain new electricity generation and storage assets across the country.
The program is also part of Mexicoâs wider National Electricity System expansion strategy. Its goal is to help meet growing demand from homes, companies, and industrial users while encouraging investment in cleaner power infrastructure.
Long-Term Contracts Support Project Financing
A key part of the program is its long-term contractual model. The proposed 25-year power purchase and tolling arrangements are intended to create stable revenue streams. This can make projects more attractive to lenders, infrastructure funds, institutional investors, export credit agencies, and strategic partners.
For renewable energy developers, long-term agreements can reduce uncertainty and help unlock financing for large-scale projects. For Mexico, they can support the faster delivery of new generation and storage capacity.
Polaris Sees Mexico as a Growth Market
Polaris Chief Executive Officer Marc Murnaghan said Mexico is one of the most attractive growth markets in the companyâs portfolio. He noted that the selection of all three projects strengthens Polarisâ long-term growth platform in a country with rising power demand and a continued need for new generation and storage infrastructure.
The company also said it continues to evaluate additional project opportunities in Mexico, including projects at different stages of permitting, development, and commercial review.
Broader Impact on Clean Energy Development
If completed, these projects could help Mexico expand renewable power supply, improve energy storage capacity, and support a more flexible electricity grid. Solar power can provide low-emission electricity during daylight hours, while battery storage can help shift energy availability to times when demand is higher.
This combination of generation and storage is becoming increasingly important as countries add more renewable energy to their grids. It can reduce pressure on traditional power sources and help improve energy security.
About Polaris Renewable Energy
Polaris Renewable Energy Inc. is a Canadian publicly traded company focused on acquiring, developing, and operating renewable energy projects in Latin America and the Caribbean. Its portfolio includes geothermal, hydroelectric, solar, and wind assets.
The companyâs current portfolio includes an approximately 82 MW geothermal plant, about 39 MW of run-of-river hydroelectric plants, around 35 MW of solar projects, and an approximately 26 MW onshore wind park.
Outlook
The advancement of Polarisâ three Mexican projects represents a meaningful step for both the company and Mexicoâs clean energy development plans. While the projects still require final agreements before construction details can be confirmed, their selection shows growing momentum for renewable energy and battery storage investment in the country.
Polaris said it remains committed to delivering long-term sustainable energy solutions and working with stakeholders through the approval and implementation process.
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