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March 27, 2018

Thermion acquires 171MW self-supply wind project in Mexico

Independent clean energy power producer Thermion has acquired the 171MW Los Molinos wind project from Mexican power developer Comexhidro.

Independent clean energy power producer Thermion has acquired the 171MW Los Molinos wind project from Mexican power developer Comexhidro.

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Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
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Built in the state of Tamaulipas, Mexico, the self-supply wind project marks the third acquisition for Thermion.

Last year, the company acquired a self-supply 117MW wind project and a self-supply 48MW solar project.

With the latest acquisition, the company has expanded its current controlled project capacity in Mexico to 348MW.

Construction on the three power plants is expected to begin between the fourth quarter of this year and the first quarter of next year.

“Our aim is to be their long-term energy partner and adviser, offering sustainable low-carbon solutions to all their energy needs.”

Thermion co-founder and chairman Alberto Garza Santos said: “We are delighted to have completed the acquisition of our second wind project in the state of Tamaulipas, where we aim to develop, build and operate one of the most relevant wind farm complexes in America to deliver reliable renewable energy to our pipeline of corporate customers throughout the country.”

The company noted that its focus on the self-supply (auto-abasto) legacy regime projects allow it to provide competitive and stable-priced electricity to its customers for 20 years.

It would also reduce their exposure to the volatility of long-term electricity prices and carbon-based fuel prices, as well as transfer the legacy benefits of lower transmission costs to its customers.

So far, the company’s three power plants will annually reduce 640 thousand metric tons of CO2 from the environment.

Thermion CEO Michael Bax said: “Expansion and portfolio diversification is not our only focus; our team is focused on working with our customers to understand their current and future energy procurement challenges, from efficient use of energy to electric vehicles.

“Our aim is to be their long-term energy partner and adviser, offering sustainable low-carbon solutions to all their energy needs.”

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Free Report
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Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
by GlobalData
Enter your details here to receive your free Report.

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