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Mexico's head of energy ministry Sener Pedro Joaquín Coldwell has delivered the first installment of a 239mn-peso (US$18mn) pledge to launch the operations of Michoacán's geothermal innovation center Cemie together with state power company CFE.
The first 50mn-peso allocation will be used to develop strategic projects, train human resources and strengthen the operations of labs in the next four years, Sener said in a release.
In addition, a new geothermal energy bill will be introduced to congress in the next few weeks looking to foster and regulate exploration and production in this segment, Coldwell said.
The ministry is also working with the IDB to offer a geothermal exploration insurance this year. The bank would contribute with US$30mn for the initiative, while Mexico's government would bring close to 150mn pesos.
Sener and CFE officials also toured 50MW geothermal project Los Azufres III due online by early 2015.