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ENGIE strengthens its presence in the Mexican renewable energy market by obtaining four projects in the Long Term Electricity Auction organized by Mexico’s National Center for Energy Control (CENACE). This represents the supply of 687.8 MW of renewable energy and an investment of US$580 million.
The four projects are:
ENGIE adds this deal to its achievements in the First and Second Electric Auction of 2016 where the group obtained three renewable energy projects with a generation capacity of 209 MW, and investments of US$215 million. The projects are currently under construction.
ENGIE in Mexico manages a range of energy businesses including natural gas distribution, natural gas transport, electricity generation, cogeneration, and energy services to homes, commercial and industrial customers. The company has six natural gas distribution companies that serve more than 450,000 customers and three natural gas transport companies which operate over 1,300 km of pipelines. In power generation, the company operates two power plants with 375 MW of capacity.
Isabelle Kocher, CEO of ENGIE commented:
"We are very excited about the results obtained in this auction. We are pleased to contribute to develop the participation of clean energies in Mexico. By 2020, ENGIE Mexico will have invested close to 800 million dollars in renewable power generation, with approximately 900 MW of capacity. Our ambition is strong, it is in line with the draw of ENGIE to be a leader of energy revolution".
We have recently reported several renewable energy projects in Mexico:
Canadian Solar will develop and build three projects in Mexico, totaling 367 MWp. Once connected to the grid, the electricity generated will be sold to the Comisión Federal de Electricidad (CFE) under a 15-year power purchase agreement.
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Read moreMexico has selected 16 offers in the preliminary results of the country's third long-term electric power auction, receiving record low prices in the economic offers from developers.
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Read moreMexico Pacific Limited has received an investment from Aecom Capital’s infrastructure fund for the development costs of an estimated US$1 billion Liquified Natural Gas project in the Gulf of California.
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