Mexican community approves wind power studies in Bachiniva - report
The El Porvenir community in Bachiniva, northern Mexico, has given approval for wind power studies of US renewables company SunEdison Inc (NYSE:SUNE) in the next two years, local media said Friday.
The company will study the wind resource for the installation of nearly 100 turbines, therefore it will rent 1,000 ha (2,471 acres) of land used by cattle farmers. The rent will amount to MXN 100 (USD 5.92/EUR 5.25) per ha during the studies and will later transform into a portion of revenues from wind power production as part of a 30-year contract.
SunEdison has recently signed a memorandum of understanding with Spanish wind turbine maker Gamesa (BME:GAM) to form a 50/50 joint venture for wind projects in India and Mexico. The companies plan to develop up to 1 GW of wind power in the two counties.
Diana Hristova is our expert for Latin America. She has spent several years following the diverse industries in the region, the energy sector most of all. Now Diana is exploring Latin America’s huge wind, solar, geothermal and hydropower potential.