Iberdrola México, S.A., owned by Spanish energy company Iberdrola, is engaged in the generation of electric power in Mexico. Mexico is one of Iberdrola's strategic countries to grow internationally and the company expects to have installed capacity of about 10,000MW by 2020. Based in Mexico City, Iberdrola México operates through the subsidiaries Iberdrola Generación and Iberdrola Renovables. Iberdrola México has an installed capacity of 6,000MW in seven combined cycle and cogeneration plants and 360MW in five wind farms. It also has an investment portfolio to build four new combined cycle plants (Baja California III, Noreste and Escobedo II in the state of Monterrey, and Noroeste in the state of Sinaloa), as well as two cogeneration plants (Bajío, in the state Of Querétaro, and Altamira, in the state of Tamaulipas). In the renewable energy sector, Iberdrola Mexico has the 220MW PIER II and 105MW Santiago Eólica wind projects in Puebla and Guanajuato states respectively and the 105MW Hermosillo and 170MW Santiago photovoltaic projects in Sonora and San Luis Potosí states respectively.