$14 bn Spanish investment planned in Mexico’s power sector

$14 bn Spanish investment planned in Mexico’s power sector

Between 2015 and 2018 Spanish companies ‘Iberdrola’, ‘Gamesa’ and ‘Acciona’ have planned investments of about $14 Bn in Mexico’s power sector.

 Mexico expects to have an installed generating capacity of more than 9,500 MW, a level equivalent to 8 percent of total power generation in the country.

Iberdrola primarily would invest up to $5 billion into natural gas and renewable energy sector in Mexico. While Gamesa plans to invest $950 Mn into wind farms, $500Mn into supplier development and $6Mn in a service center. Acciona is planning to build three wind farms, which would have a capacity of generating 2000MW of power annually. Investment required is about $650Mn.

Currently, Mexico has a total installed generation capacity of 2551MW of wind power. 31 wind farms are operating in Oaxaca, Baja California, Chiapas, Jalisco, Tamaulipas, San Luis Potosi and Nuevo Leon states, and six new wind farms are under construction.

Mexico is planning to achieve capacity of 12,000 MW by 2020, by using diverse energy sources like wind, water, sun and geo thermal to increase its energy security.