Cemex plans to create an energy division to participate in power generation using natural gas and wind power for self-supply and sale to Mexico’s state utility company CFE.
Cemex wants a stake in up to seven power generation projects similar to the two it currently relies on, according to CEO Fernando Gonzlez.
The Monterrey-based company announced in September 2014 that it would seek to increase its power generation capacity, without mentioning specific projects. In April 2014, Cemex completed financing of the $650m 252MW Ventika wind farm in Nuevo Len State, in which it holds a 5% stake.
The windfarm is slated for completion in the second quarter of 2016.Ventika is expected to supply power to beverage bottler Femsa, steel products firm Deacero, Tecnolgico de Monterrey University and Cemex, with more off-takers likely to come onboard in the future.
AWS Truepower, a New York-based renewables consulting and engineering services firm, will act as independent engineer to support the construction of Ventika, which will comprise two 126MW parks.
Gonzlez said that Cemex was exploring project possibilities and searching for partners with the requisite plant management knowledge.
“We have already developed energy generation projects in Mexico and in other countries under the self-supply model, because cement production demands a lot of power and there is not enough electricity available,” he said.