Abengoa to Develop a 924 MW Plant for Mexico's Federal Electricity Commission
January 09 2015 - 2:46PM
- The project, worth $1,550 million, includes construction of the
plant and 25 years of operation and maintenance.
- The plant, which will have a capacity of 924 MW, will
strengthen the power supply in northern Mexico.
Abengoa (MCE: ABG.B/P SM) (Nasdaq:ABGB), the company that applies
innovative technology solutions for sustainability in the energy
and environment sectors, has been chosen by Mexico's Federal
Electricity Commission (CFE) to carry out the Norte III project,
consisting of a 924 MW combined cycle plant in Ciudad Juárez
(Mexico) as part of the National Investment Plan 2014-2018 recently
announced by the Mexican government.
Abengoa will be responsible for the engineering, design and
construction of the combined cycle plant, as well as its subsequent
operation and maintenance for a 25 year period. The total contract
is worth $1,550 million, including construction, operation and
maintenance of the plant. Abengoa's project is expected to be
completed within 30 months, creating up to 2,000 direct and
indirect jobs during the construction phase. The investment during
the construction phase will total around $700 million, which will
be financed with a mix of equity and non-recourse debt. Abengoa
will take an equity stake in the project.
This latest contract will bring the estimated backlog for
Abengoa's engineering and construction division to around €9,300
million, based on the figure from the end of 2014.
The plant will produce enough power to supply more than 500,000
homes every year, providing an efficient response to the needs of
the region's inhabitants while improving the country's energy
independence. It will also reduce greenhouse gas emissions and the
end cost of electricity to consumers.
The Norte III project is the largest combined cycle plant in
Mexico and the second that Abengoa will have constructed for the
CFE, after the 640 MW Centro Morelos plant currently under
construction. Abengoa is also carrying out two power transmission
projects for the CFE.
This new contract will consolidate Abengoa's leadership position
in Mexico where it has been present for 30 years. It has carried
out numerous projects in the country, helping to develop its energy
system through innovative technology solutions.
About Abengoa
Abengoa (MCE: ABG.B/P SM) (Nasdaq:ABGB) applies innovative
technology solutions for sustainability in the energy and
environment sectors, generating electricity from renewable
resources, converting biomass into biofuels and producing drinking
water from sea water. (www.abengoa.com)
CONTACT: Communication Department:
Patricia Malo de Molina Melendez
Tel. +34 954 93 71 11
E-mail: communication@abengoa.com
Investor relations:
Barbara Zubiria Furest
Tel. +34 954 93 71 11
E-mail: ir@abengoa.com