Mexico Grupo Dragon to invest USD 700m in renewables - report
Mexican energy firm Grupo Dragon, part of Grupo Salinas, will invest up to MXN 12 billion (USD 712.9m/EUR 641.2m) in renewable energy in the next four years, CEO Jose Pablo Fernandez told El Financiero on Thursday.
The company has three wind projects in construction along with a solar project and will participate in the first geothermal licence auction after the energy reform.
It already has a 5-MW geothermal plant that will be expanded to 25 MW in 2016, and some wind farms like the 50-MW Los Altos, launched in February 2014, which is supplying wind power to subsidiaries of Grupo Salinas. The solar project is also located in Los Altos, Jalisco state.
The company sees many opportunities after the reform, such as geothermal power generation or the new electricity market, Fernandez said.
Grupo Dragon is also in talks with state-owned power utility Comision Federal de Electricidad (CFE) to develop new geothermal projects.
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.