Mexican cement giant Cemex plans to create an energy division to participate in power generation using natural gas and wind power for self-supply and sale to state utility CFE, according to Business News Americas.
The cement firm wants a stake in up to seven power generation projects similar to the two it currently relies on, the firm's CEO, Fernando González, said at a Mexico City conference.
The Monterrey-based company had announced in September that it would seek to increase its power generation capacity, without mentioning specific projects.
In April, Cemex completed financing of the $650 million, 252 MW Ventika wind farm in Nuevo León state, in which the firm holds a 5 percent stake. The facility is slated for 2Q16 completion.
Ventika is expected to supply power to beverage bottler Femsa, steel products firm Deacero, Tecnológico de Monterrey University and Cemex, with more offtakers likely to come onboard in future, the firm said.
AWS Truepower, a New York-based renewables consulting and engineering services firm, will act as independent engineer to support the construction of Ventika, which will comprise two 126 MW parks.
González said the firm was exploring project possibilities and searching for partners with the requisite plant management knowledge.
"We have already developed energy generation projects in Mexico and in other countries under the self-supply model, because cement production demands a lot of power and there is not enough electricity available," he said.
In October, Cemex completed a 1.5 MW solar project in San Pedro de Macorís in the Dominican Republic, the firm's first in the Caribbean.