Mexico's Federal Electricity Commission (CFE) and Iberdrola have agreed to collaborate in the development of power projects in Mexico, and to exchange information on new technologies in the energy sector.
The recent agreement focuses on the areas of electricity generation, energy transmission and distribution and natural gas storage. It will see the companies exchange information on implementing new technologies and managerial experiences and also contemplate the completion of joint investment projects at renewable and conventional generation facilities, and elsewhere in the electricity/gas sector.
Iberdrola says the agreement will require investment to the value of $5 billion between 2014 and 2018. It also strengthens Iberdrola's commitment to Mexico, where it has been active since 1998, and currently has an operating capacity of over 5200 MW in the form of combined cycle gas-fired power plants and wind farms.
The agreement was signed by Iberdola chairman Ignacio Galán, and managing director of CFE Enrique Ochoa Reza in Madrid.
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