Mexico's Tamaulipas state expecting increased energy investment

Monday, November 30, 2015

Mexico's northeast Tamaulipas state said it had signed an agreement with the Texas-based business association the Greater Houston Partnership to promote energy investments and that Iberdrola and Fermaca plan to invest in the state.

The promotion of Tamaulipas by governor Egidio Torre Cantú is reflected in the increased interest of national and international investors, the head of the local energy agency, José María Leal Gutiérrez, said in a state government release.

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Leal Gutiérrez said Tamaulipas was about to close a "very good year while reviewing projects for 2016."

The state government also said the president of Iberdrola, José Ignacio Sánchez Galán, had announced US$5bn of investment in wind farms and combined-cycle plants in Mexico, totaling 1.6GW, and which include the Altamira power station in Tamaulipas.

"We are working very closely with investors in the wind sector to consolidate new projects, and we know there are firms ready to participate in the 2016 open season, and there is also much interest in the gas sector," Leal Gutiérrez added.

Mexican natural gas transportation company Fermaca will invest US$3bn in gas pipelines, storage and power generation infrastructure, Tamaulipas government reported the company's corporate development director, Raúl Monteforte, as saying.

The investment will be in collaboration with Spanish company Enagás, as both firms have been awarded a US$88mn, 25-year gas compression contract by state utility CFE at Soto La Marina, Tamaulipas.

Mexico's energy ministry Sener in October launched the tender for the US$3.1bn subsea Texas-Tuxpan pipeline, which will transport US-produced gas 800km to the states of Veracruz and Tamaulipas.