Engie and Tokyo Gas Co. Ltd. will establish an equally-owned joint venture company in Mexico to develop six renewable energy projects, the French energy group announced Tuesday.
According to Engie's statement, the new company Heolios EnTG will develop, finance, construct, own, operate and maintain two onshore wind and four solar photovoltaic projects totaling 898.7 megawatts, enough to power 1.3 million Mexican households.
The joint venture received approval from Mexico’s federal competition commission, COFECE, on March 28, and the projects were granted 15-year power purchase agreements through Mexican power auctions, it said.
One of the power plants, Tres Mesas 3, is a 50-megawatt wind power facility that entered into commercial operation in March. The remaining plants are currently in various stages of construction and will start commercial operation later in 2019 and 2020.
According to the press release, the Mexican government issued an energy law in 2015 transitioning the country to a low-carbon growth model targeting 35% of clean energy sources by 2024.
By Hale Turkes