Mexico

Mexico

EGP signs two PPAs in Mexico

MEXICO: Enel Green Power (EGP) has signed power purchase agreements (PPAs) for its 100MW Dominica wind farm with an automotive manufacturer and a bank.

Delphi Autmotive and Banamex bank have signed a $485 million deal for the project, which will be located in the Mexican state of San Luis Potosi.

Construction of the Dominica project will begin later this year.

Italian renewable enrgy company EGP has been steadily expanding in Mexico and other emerging markets in an effort to break out of a stagnating Italian market.

Earlier this year it announced it a $100 million loan deal with Spanish Bank BBVA for its projects in Oaxaca.

The move is part of the firm's strategy across all renewables sectors to target emerging markets, amid regulatory uncertainty and declining investment opportunities in its domestic market and other countries with mature wind industries.

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