Mexico's national power utility Comisión Federal de Electricidad (CFE) has selected Iberdrola in an international tender, to develop the 778 MW Topolobampo II CCGT project in Ahome, in the state of Sinaloa (Mexico).
Iberdrola offered a US$334.5m investment, i.e. 49% less than the estimated budget for the project. A consortium of Korean companies KEPCO and Daelim also took part to the tender.
The project will consist in the development of the installations, design, construction, test and commissioning and will also include the operation and maintenance of the power plant. The construction of the plant is expected to last 30 months and the project should enter commercial operation in January 2019. Iberdrola will operate the plant as an independent power producer.
The CFE had announced in November 2015 that it would hold a second tender process, as the first tender was declared void (maximum annual flow capacity charges offered by the bidders were above the limit CFE budgeted for the project).
Do you want to become an expert on renewable energies auctions?
Discover our very detailed and regularly updated RES auctions database with worldwide coverage and a technical focus backed by academic research.
With our renewable energies auctions service you will be able to monitor auctions at a global level. Its (expanding) scope notably includes all major G20 countries and offers an especially fine tracking on Europe and South America.