Thermion bets on Mexico in the long term

5 years ago

Energy market

Thermion Energy bets its investments in Mexico for the long term. He hopes that, even with a possible change in current conditions, the renewable energy sector will continue to germinate.

To continue with its expansion in the country, it is currently negotiating new acquisitions that it plans to complete during this year.

By 2021, Thermion will have substantially expanded its renewable energy production capabilities, to reach a production of 1,000 megawatts. With this power, the company could supply all the electricity consumed by the state of Tabasco annually each year.

Renewable energy production “is not a short-term business, it is long-term (…) We are aware of the potential changes and we are not afraid of what is coming because the market follows a good path to the future,” said one member. from the board of directors.

“Our job, he continued, is to contribute to cleaner, cheaper energy that does not depend on the price of fossil fuels. These three characteristics are good for the market and for the economy of any form of government, ”he said.

In June 2017, the wind energy producing company placed a Development Capital Certificate (CKD) for a total of 7,306 million pesos in the Mexican Stock Exchange (BMV), resources that it is using to finance clean energy projects in Mexico.

Eight projects
“We have fulfilled what we initially promised to the market. The plan is to invest in up to eight wind projects, buy developments and continue developing wind projects in Tamaulipas and develop a photovoltaic project in Sonora, ”said the company’s director.

He estimated that his investments will reach around 1.4 billion dollars by 2020.

The projects announced to date are three: two wind power plants and one solar in the states of Tamaulipas and Sonora, with a total power generation capacity of 348 megawatts.

A manager of Thermion said that the construction of all the plants will begin at the end of this year and the beginning of 2019 and will mean the reduction of approximately 640,000 tons of carbon dioxide equivalent (CO2e) to the environment per year, an amount equivalent to removing approximately 125,000 cars from circulation .

Thermion’s current projects are located in three states of the Mexican Republic – Tamaulipas, Sonora and Nuevo León.

A manager of Thermion did not rule out extending its operations to other entities to continue building more assets.

With the implementation of its projects, Thermion will sell cheaper energy at 10% and up to 30% compared to the current rates of the Federal Electricity Commission (CFE), to medium and high voltage companies, which is the market with more Energy consumption in the country.

In the medium voltage segment it is estimated that there is a base of around 320,000 customers.

He explained that, in addition, they have a pipeline of possible customers that represents a demand for more than one terawatt, much more than what they will produce with their initial projects.

The rates offered will be in pesos and dollars, with service contracts of up to 20 years and stable rates adjusted for inflation.

“We are a company that will develop, finance, build and operate our plants, we are not to develop projects, sell them and leave. We are here for the long term and we have 100% Mexican financing.

“It is important to make good projects and be cautious in how we develop them,” said the manager.