Rengen’s Mexico Investment Plans Reach US$2.4 BillionBy Ricardo Guzman | Fri, 02/14/2020 - 17:17
Rengen Energy Solutions plans to invest up to US$2.4 billion (approx. MX$44.5 billion) in 14 power generation projects involving the Federal Electricity Commission (CFE) in 2020, the company’s CEO Óscar Scolari Romero has said.
Four of these projects are CFE tenders that might reach an investment amount of US$1.8 billion (approx. MX$33.3 billion), according to Scolari. Three of these are combined cycle plants in Salamanca, San Luis Potosí and San Luis Río Colorado, and one open cycle plant in Baja California Sur.
During a press conference, Scolari Romero spoke of Rengen Energy Solution’s partnership with “an international company” in the participation of four distribution and transmission projects. The Mexican firm also plans to invest US$100 million (approx. MX$1.85 billion) in four generation plants to take advantage of the market’s growing opportunities.
Rengen is also going to participate in the rehabilitation and reconfiguration of the six PEMEX refineries. “Some companies have asked us if we can jointly venture into the country's refineries, which are operating at very low capacity,” Scolari said.
Next march the firm will start construction of a US$300 million (approx. MX$5.5 billion) solar plant in León, as well as US$180 million 90 MW photovoltaic park in Tijuana. Other plans included this year are maintenance of dynamic equipment on oil platforms for PEMEX and three 90MW mobile power generation units in Puerto Rico.
The CEO also highlighted the government's intention to invest in infrastructure and new projects, although he warned of the need to be vigilant to make sure those are carried out.