Actis-backed Yeltica Energy starts with three solar-plus-storage projects awarded by CFE, Mexico
The platform targets over 2 GW of solar PV, wind, and battery storage capacity
José Luis García will lead the new Mexico-focused renewables business as CEO
London-based global investor Actis has launched Yeltica Energy, a new renewable energy platform in Mexico targeting 2 GW of solar, wind, and battery storage capacity.
Yeltica’s initial portfolio comprises approximately 330 MW of solar PV and 255 MWh of battery storage capacity. The three anchor solar-plus-storage projects were awarded by Mexico’s state utility, Comisión Federal de Electricidad (CFE), under its first Mixed Investment Tender.
All three projects have signed 25-year power purchase agreements (PPAs) with CFE, with payments denominated in US dollars and indexed to inflation.
Actis said Yeltica Energy will seek to expand beyond the initial portfolio by participating in additional Mexican public tenders and developing projects directly with developers and power offtakers.
The launch of Yeltica Energy marks Actis’ return to Mexico’s renewable energy sector, where it previously owned and exited Zuma Energia, Saavi Energia, and Atlas Renewable Energy.
Yeltica Energy will be led by José Luis García, who has more than 25 years of experience in the energy sector. He previously served as CEO of Zelestra LATAM, formerly Solarpack, where Actis said he built and divested a renewable energy platform of more than 1 GW across Chile, Peru, and Colombia (see Spanish Solar Developer Brings On Board New Latam CEO).
García was also CEO of Zuma Energia, a former Actis business in Mexico, where he developed and built more than 800 MW of wind and solar projects. García said Yeltica begins with an initial portfolio and pipeline as it seeks to expand its presence in the Mexican energy market. Actis is also investing in Mexican data centers through its Latin American hyperscale platforms Terranova and NextStream.
The new platform comes as Mexico’s Plan Mexico reforms seek to increase investment in the country’s power sector. The Power Sector Development Plan (PLADESE) 2025-2039 calls for about 75 GW of gross new generation capacity, with approximately 80% expected to come from clean sources, according to Actis.
Mexico is also targeting a 38% renewable electricity share by 2030, while seeking to add 32 GW of new generation capacity by that year, including 22 GW from renewable sources.
Alberto Estefan, Managing Director of Energy Infrastructure at Actis, said the policy framework and rising electricity demand are creating opportunities for private investment in Mexico’s energy sector.
A September 2025 Ember report claims Mexico could fulfill 58% of its annual electricity needs from solar and batteries and completely displace its reliance on imported gas by 2030. With 165 GW of solar and 500 GWh of storage, it could become a global solar superpower (see Ember: ‘Mexico Can Become A Global Solar Superpower’).
