The 1,121 MW combined cycle plant brings Iberdrola’s Mexican interests to five generation plants with a total capacity of more than 3,800 MW, making it the largest private generation company in the Latin American country.
The $550 million plant is located in the state of Tamaulipas, at the port of Altamira on an existing site and has a 25 power purchase agreement with the Federal Electricity Commission (FCE).
The gas for the plant will be supplied directly by the CFE
Iberdrola is also currently developing a further 1,135 MW combined cycle plan in Mexico at Tamazunchale, which is due to begin operating in June 2007.
The development comes as construction of combined-cycle generation plants under an Independent Power Producers scheme is expected to resume over the coming year.
It is anticipated that rising electricity demand will prompt the CFE to launch a new bidding process to invite interested parties to develop power projects.
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