An AES plant in California.
One of the world’s largest private power companies will invest at least US $1 billion in Mexico, and double its existing capacity for electrical generation. United States-based AES Corporation also plans to enter the wholesale power market, an opportunity created by the new energy laws.
The company currently operates three power plants in Mexico and its plan is to double that capacity with plants powered by natural gas. Its new investment will be carried out over the next three to five years.
The head of AES in Mexico said that entering the wholesale power market is one of its main targets. Juan Ignacio Rubiolo said they are monitoring the creation of the new independent electric system operator and waiting to access technical data and transparency rules.
A key concern is access to natural gas.
“We would like to be more comfortable with how they’re going to allow private investors to get access to gas and pipeline capacity,” Rubiolo said.
AES has power generation and distribution operations in 20 countries. Its revenues last year were $15.9 billion.
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