28 Jun '14, 1am

Iberdrola to Spend $5B to Boost Mexicos Energy Sector | Energy Digital

The funds will be used for Mexicos natural gas and renewable energy projects. Spain rsquo;s largest utility Iberdrola SA plans to invest up to $5 billion in Mexico between 2014 and 2018 to help the country rebuild its energy industry, which was reformed by the countrys present administration. In fact, the company's initiatives already underway represent investments to the value of US $1.5 billion. Iberdrola entered into a deal with the Mexican Federal Electricity Commission (CFE), which involves electricity generation, transmission and distribution in Mexico. The agreement also lays out a plan to build infrastructure for storing natural gas, and investing money on renewable energy projects. The Spanish utility said the deal would also allow the exchange of information on implementing new technologies and managerial experiences between the two bodies. The contract was signe...

Full article: http://www.energydigital.com/utilities/1730/Iberdrola-to-...

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