Abengoa has been chosen by Mexico’s Federal Electricity Commission (CFE) to develop the Norte III project, a 924-MW combined-cycle power plant in Ciudad Juárez, Mexico as part of the National Investment Plan 2014-2018 recently announced by the Mexican government.
Under the $1,550 million contract, Abengoa will handle the engineering, design and construction of the plant, as well as the operation and maintenance for a 25-year period. During the peak construction phase, more than 2,000 direct and indirect jobs will be created.
The project is expected to be completed within 30 months, and upon completion, the Norte III project will be the largest combined cycle plant in Mexico.
The construction phase investment will total around $700 million, which will be financed with a mix of equity and non-recourse debt.
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