China-based Envision Energy has agreed to acquire a controlling stake in portfolio of wind projects in Mexico from Vive Energia, with a power generation capacity of more than 600MW.

Both companies have also signed a strategic deal to develop the projects to the final stage by the end of this year.

In addition, the companies will begin construction of the first wind farm early next year.

Envision’s Latin America and the Caribbean director Rafael Valdez Mingramm said: "This investment is considered China’s largest direct investment in Mexico in the renewable energy space and will take advantage of bilateral cooperation agreements and lines of credit that are in place."

"Mexico is one of the most promising markets in the Americas for wind power generation in the coming decade."

The alliance has set a goal of developing and operating 1.5GW of projects by 2020.

Envision executive director Felix Zhang said: "Mexico is one of the most promising markets in the Americas for wind power generation in the coming decade, not only a result of the energy reform but also given its untapped wind resources, viable projects and off-takers, as well as the interest of equity sponsors and lenders."

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Recently, Spain’s Banco Santander and its wind-turbine supplier Gamesa Tecnologica applied for environmental permits for the 242MW El Sauzal wind park in Mexico.

Mexico currently has an installed wind capacity of 2,500MW.

The country has wind farms under construction in Oaxaca, Tamaulipas, Jalisco, La Laguna and south-eastern regions.

According to AMDEE, the Mexican Wind Energy Association, the country’s installed wind capacity is expected to increase by nearly 30% this year with the start-up of six new wind farms with power generation capacity of 730MW.