Gerdau Corsa, the Mexican subsidiary of Brazilian steelmaker Mexican Gerdau, has signed a 15-year contract with Engie, a French energy company, to acquire 100% of the power generated by a photovoltaic park to be located in Sonora, which will feed a plant located in Tultitlán, State of Mexico.
In a statement, the company said that with this acquisition, the factory where they make rebar will be added to a strategy to make their operation more competitive globally. The financial terms of the agreement were not disclosed.
Engie invested US$ 111 million for the construction of the solar park, which will have an installed capacity of 100 megawatts in an area of 266 hectares, where 400,000 panels will be installed. This facility will come into operation in the last quarter.
“Having signed this important contract for the supply of renewable energy is a very important success for the company, as a result of the effort and dedication of the teams from Mexico, Canada and the United States,” said Darren Macdonald, director of the energy division of Gerdau in North America.