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Iberdrola wins US$400m contract for a 766 MW CCGT (Mexico)

Iberdrola has signed an agreement with the Mexican Federal Electricity Commission (CFE) regarding the construction and the operation of the new 766 MW Topolobampo-3 CCGT (combined-cycle power plant) project, which will be located next to the city of Ahome (Sinaloa, Mexico). It will begin its operation in January 2020 and will require an investment of about US$400m.



Iberdrola, which will be in charge of the construction, operation and maintenance of this generation plant, will also be its owner, selling all the energy produced to the CFE, through a 25-year contract with fixed charges capacity.



This agreement aligns the project with the company's strategy of growing into regulated and predictable activities, located in countries where it has a long-run and strong presence. Indeed, Iberdrola has been present in Mexico for more than 18 years, becoming the largest private power producer in the country, with 6,000 MW already in operation in 2016. Likewise, the operation allows it to strengthen its strategic relationship with CFE, its largest customer worldwide.



The Topolobampo-3 plant will feature General Electric H01 gas turbines. Together with the construction of the plant, Iberdrola will start up all associated facilities necessary for its connection to the Mexican national electrical system, such as the power lines or the transforming substation.

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