New power plant project for Baja California, Mexico
Construction and operation of a 300 megawatt Baja California III combined-cycle power plant in Mexico has been awarded to Iberdrola USA parent company, Iberdrola S.A. Work on the $270 million plant and associated facilities will begin in April 2014 with commercial operation planned for August 2016.
Iberdrola won the bid through an international tender process, which also included a 25-year power purchase agreement with the Mexican Federal Electricity Commission (CFE). CFE also will supply the natural gas to fuel the new plant's two GE turbines.
With this contract, Iberdrola, which already has an operating capacity of more than 5,200 MW in Mexico, consolidates its position as the country's largest private electricity producer and the second largest producer in Mexico, after the state-owned CFE.
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berdrola has been a leading energy producer in Mexico since 1998, and considers it, along with Brazil, as strategic locations for Latin American business growth. Between 2012-2014 Iberdrola plans to invest approximately €2.4 billion in the region - about one-quarter of the company's worldwide investments of €10.5 billion.
The company’s combined-cycle power plants in Mexico, currently totaling 4,987 MW of installed capacity, are: Tamazunchale (1,135 MW), El Golfo (1,121 MW), Monterrey (1,040 MW), Altamira (1,036 MW), La Laguna (535 MW) and Enertek (120 MW). The wind farms are namely: La Ventosa (totaling 102 MW capacity after its recent extension), La Venta III (102 MW), and Bii Nee Stipa (26 MW).
With 31,000 employees, 45,000 megawatts of installed capacity and more than$40 billion in market capitalization, Iberdrola is one of the world's largest electricity companies and a global leader in renewable energy. It serves a population of 100 million, with a special focus on Spain, the UK, the U.S., Brazil, and Mexico.
Hydrostor receives $4m funding for A-CAES facility in Canada
Hydrostor has received $4m funding to develop a 300-500MW Advanced Compressed Air Energy Storage (A-CAES) facility in Canada.
The funding will be used to complete essential engineering and planning, and enable Hydrostor to plan construction.
The project will be modeled on Hydrostor’s commercially operating Goderich storage facility, providing up to 12 hours of energy storage.
Hydrostor’s A-CAES system supports Canada’s green economic transition by designing, building, and operating emissions-free energy storage facilities, and employing people, suppliers, and technologies from the oil and gas sector.
The Honorable Seamus O’Regan, Jr. Minister of Natural Resources, said: “Investing in clean technology will lower emissions and increase our competitiveness. This is how we get to net zero by 2050.”
A-CAES has the potential to lower greenhouse gas emissions by enabling the transition to a cleaner and more flexible electricity grid. Specifically, the low-impact and cost-effective technology will reduce the use of fossil fuels and will provide reliable and bankable energy storage solutions for utilities and regulators, while integrating renewable energy for sustainable growth.
Curtis VanWalleghem, Hydrostor’s Chief Executive Officer, said: “We are grateful for the federal government’s support of our long duration energy storage solution that is critical to enabling the clean energy transition. This made-in-Canada solution, with the support of NRCan and Sustainable Development Technology Canada, is ready to be widely deployed within Canada and globally to lower electricity rates and decarbonize the electricity sector."
The Rosamond A-CAES 500MW Project is under advanced development and targeting a 2024 launch. It is designed to turn California’s growing solar and wind resources into on-demand peak capacity while allowing for closure of fossil fuel generating stations.
Hydrostor closed US$37 million (C$49 million) in growth financing in September 2019.