Investment group Actis has launched a new renewable energy platform in Mexico, Yeltica Energy, with the aim of developing more than 2GW of solar, wind and battery storage capacity.

The announcement was made as Yeltica Energy secured three initial projects: combined solar and battery storage facilities totalling around 330MW-peak of solar photovoltaic capacity and 255MW-hours of battery storage.

These projects were awarded in Mexico’s first Mixed Investment Tender, organised by the state utility Comisión Federal de Electricidad (CFE).

The anchor projects feature 25-year power purchase agreements denominated in US dollars and inflation-indexed. The offtaker for these contracts is CFE.

Actis, an investor in sustainable infrastructure, has a history of investment in Mexico’s energy sector, with previous ownership stakes in Saavi Energia, Zuma Energia and Atlas Renewable Energy.

At present, the company owns Valia Energia, a 3.2GW gas platform in Mexico. In total, it has been responsible for 7.3GW of generation capacity within the country since its entry into the market.

Yeltica Energy plans to expand beyond its initial portfolio by participating in future tenders and working alongside developers and energy offtakers.

The platform will be led by CEO José Luis García, who previously served as CEO of Zelestra LATAM, where he oversaw the creation and divestment of a renewables platform in Chile, Peru and Colombia.

García also led Zuma Energia, formerly linked to Actis, where he developed more than 800MW of wind and solar energy projects in Mexico.

The launch comes at a time when Mexico’s Government is encouraging investment in the power sector as part of its Plan Mexico reforms.

According to national plans, the Power Sector Development Plan (PLADESE) 2025–2039 calls for approximately 75GW of new generation capacity, with an estimated 80% to come from clean energy sources.

The government is targeting a renewable electricity share of 38% by 2030, aiming to add 32GW of new capacity, of which 22GW would be renewables.

García said: “It is an exciting moment for Mexican energy and there is positive momentum. I have built in this market before, alongside Actis at Zuma, and returning to that partnership was an easy decision – the firm takes a long-term view, backs the team, and is interested in construction and operations, beyond capital deployment.

“Yeltica Energy begins with an anchor portfolio and a strong pipeline – a great start to meet our ambitions.”