Tuesday, May 5, 2015

Spain’s Iberdrola to Build Cogeneration Plant in Mexico


MADRID – Spain’s Iberdrola said on Monday it signed a contract with petrochemical company Dynasol to build a 56 MW cogeneration power plant in the northeastern Mexican state of Tamaulipas.

The cogeneration plant will cost 1.3 billion pesos ($84 million), Iberdrola said in a statement.

Cogeneration is a process that simultaneously produces both electricity and heat from one fuel source, such as natural gas, making use of heat that would otherwise be lost.

The deal is part of an expansion strategy in Mexico, where plans call for investing up to 78 billion pesos ($5 billion) in generation projects over the next few years, the Spanish company said.

Iberdrola, Spain’s largest power company, operates in Britain, the United States, Mexico and Brazil.

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