Iberdrola to invest US$1.7 billion in Mexico

Spanish Corporation Iberdrola will invest US$1.7 billion between 2017 and 2020, to build six plants of electric co-generation in Mexico, placing this Country among the most important ones in power generation for this Company world wide. Marco Esquivel, director of combined cycles of the Company, said that the Firm will have in Mexico a capacity of generation of 75 terawatts within the next four years, much more than the capacity they have in their Country of origin. Among its most important clients is CFE, which receives from Iberdrola 13% of the electricity it commercializes, but with a plan to increase to 22% by 2020. Other Iberdrola consumers are FEMSA, Kimberly Clark, Grupo Modelo, among others.