Chinese Energy Firm Invests in 600 MW Mexican Wind Project Portfolio

Shanghai, China-based Envision Energy said it has completed the acquisition of a controlling stake in a portfolio of more than 600 MW of wind power projects under development by ViveEnergia in Mexico.

The company plans to commission the first wind farm in the portfolio by the end of 2016.

"This investment is considered China's largest direct investment in Mexico in the renewable energy space and will take advantage of bilateral cooperation agreements and lines of credit that are in place," Rafael Valdez Mingramm, Envision Energy’s director for Latin America & the Caribbean, said during the recent 9th China Latin America Business Summit in Guadalajara, Mexico.

The companies said that, under the terms of a strategic alliance between Envision Energy and ViveEnergia, they plan to bring the portfolio of projects into a ready-to-build stage by the end of this year.

Mexico in December 2013 passed an energy reform bill that ended the county’s long-standing energy industry monopoly and established an electricity market. AMDEE, the Mexican Wind Energy Association, has set a target of 12,000 MW of wind power in Mexico by 2022. According to the Global Wind Energy Association, Mexico had a total installed wind power capacity of 2,551 MW at the end of 2014.

"Mexico is one of the most promising markets in the Americas for wind power generation in the coming decade, not only a result of the energy reform but also given its untapped wind resources, viable projects and off-takers, as well as the interest of equity sponsors and lenders," Felix Zhang, executive director of Envision Energy, said in a statement.

Lead image credit: Gamesa.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Making DDoS Mitigation Part of Your Incident Response Plan: Critical Steps and Best Practices

Like a new virulent strain of flu, the impact of a distributed denial of service (DDoS) attack is...

The Multi-Tax Challenge of Managing Excise Tax and Sales Tax

To be able to accurately calculate multiple tax types, companies must be prepared to continually ...

Operational Analytics in the Power Industry

Cloud computing, smart grids, and other technologies are changing transmission and distribution. ...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Latest Energy Jobs

View more Job Listings >>

Archived Articles

PennEnergy Articles
2008 | 2009 | 2010 | 2011 | 2012 | 2013

OGJ Articles
2011 | 2012 | 2013

OGFJ Articles
2011 | 2012 | 2013

Power Engineering Articles
2011 | 2012 | 2013

Power Engineering Intl Articles
2011 | 2012 | 2013

Utility Products Articles
2011 | 2012 | 2013

HydroWorld Articles
2011 | 2012 | 2013

COSPP Articles
2011 | 2012 | 2013

ELP Articles
2011 | 2012 | 2013