Mexico's state power utility Comisión Federal de Electricidad (CFE) is the country's dominant, vertically integrated electric utility and the largest electric utility in Latin America, with 54GW of installed power plant capacity. CFE is a decentralized government agency responsible for strategic development, construction, operation and maintenance of Mexico's electricity system. The company accounts for the vast majority of Mexico's total installed capacity and electric power production, and until recently had a monopoly on distribution, generation and transmission activities. In 2015 the company signed a deal with local construction giant ICA for the joint development of electricity generation projects in the country. The agreement is the first of its kind since sweeping energy reforms were approved by the government the previous year.