Spanish energy group Iberdrola plans to double its power generation capacity in Mexico by 2020, from its current 5,400 MW to nearly 10,000 MW. The group aims to invest about US$5bn in power generation in the country by the end of the decade, to take advantage of the country's energy reform.
The group operates 12 power plants in Mexico, including five CCGT power plants that account for the bulk of its capacity and generation, two CHP plants and four renewable plants; it accounts for 15 to 20% of total power generation in Mexico.
Iberdrola is currently building seven other plants throughout the country, including the 338 MW fifth unit of the Monterrey-3 gas-fired power plant and the 294 MW Baja California III CCGT project. Iberdrola is also developing wind projects, such as the Bii Nee Stipa V project (already under construction).
To reach the 10 GW target, the group will need four or five new projects, in addition to the ones already operational and under construction.
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