Iberdrola to invest US$2.5 billion in Mexico
Iberdrola’s president, Ignacio Sánchez Galán, recently announced his intent to deploy an investment of up to US$2.5 billion in Mexico between 2020 and 2022. This would continue an investment program that to date accumulates more than US$10 billion, which in turn would significantly increase the deployment of the electric power generation network that Mexico has.
The Spanish company seeks to increase the capacity of the electricity system with more than 2,000 megawatts (MW), since there seems to be certainty in the macroeconomic solvency of the country, among other positive factors.
“We plan to continue developing projects in the country,” said José Enrique Alba, director of the company in Mexico, during the 4th Infrastructure Projects Forum.
The project portfolio is large, Alba said. And, among the ones they are studying, there is one in the state of Nuevo León. The project would be additional to the two plants the company already has in the state, one of them entered commercial operation with 888 MW, which is already delivering power to the National Electric System.
The other twin plant in El Carmen has a capacity of 836 MW, which, according to Alba, is expected to come into operation by August 2019.
“It will be the first combined cycle in Mexico that uses Mitsubishi EJ gas turbine technology; they are the most efficient, with a yield of more than 60%. All the energy will be sold to industrial customers,” Alba said.
Iberdrola is present in 12 Mexican states, and is currently building five additional power plants, with 20 already operating. 40% of its sales go to private clients, large companies in Mexico.
“Mexico is a country that is growing its electric industry, unlike other countries, at three or four percent annual levels; that requires large investments and the investments require clarity and stability. Of course they can count on Iberdrola during this sexennium, as they could count during the previous ones, so that Mexico has the energy it needs in the cleanest, most profitable, and sustainable way possible,” Sánchez Galán said.