Mexico's Cemex eyes electricity generation

Wednesday, September 3, 2014

Mexican cement giant Cemex will participate in electricity generation and the construction of energy infrastructure, taking advantage of the wholesale market created by the country's energy reforms, according to the firm's CEO.

"Cemex will participate in electricity generation in Mexico, including generation from different sources. We have the know-how and the experience in the development of energy projects, which we have mostly used for the self-supply model," Fernando González Olivieri said in an interview with Milenio newspaper.

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"We're going to take advantage of the opportunities of the open market as a result of the reform."

He also said the company will be looking to participate in the construction of energy infrastructure.

"We are very optimistic about the impact the energy reform will have on investment in the country and we hope that is reflected in construction," González Olivieri told the paper.

"It will probably be toward end-2015 or in 2016 when the energy sector will require more infrastructure of all kinds. Cemex has experience and is a leader in the US in supplying the energy industry."

Cemex announced in April it had completed its financing of the 252MW Ventika wind complex in the northern state of Nuevo León. Investment in the project totals around US$650mn.

Cemex, Latin America's largest cement producer, holds a 5% stake in the project, which will be operated by Spain's Acciona Energia.

Formerly CFO, González Olivieri was appointed CEO in May after the death of then chief executive Lorenzo Zambrano.