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Grupo México eyes development of geothermal power projects in Mexico

Avenida de la Reforma, Mexico City, Mexico (source: flickr/ Enrique Dans, creative commons)
Alexander Richter 20 Sep 2019

The private sector is not giving up on geothermal development in Mexico. Now Grupo México, through subsidiary Perforadora México, is eyeing geothermal power development in the country. The government should help to revamp the previous administration risk mitigation mechanisms developed with international help.

The Grupo México conglomerate , through its subsidiary Perforadora México, wants to boost the development of geothermal power generation projects in the country, as reported by local publication El Financiero.

José Luis Mercado , director of institutional relations of infrastructure of the company, said that from previous years they seek to prop up this type of development with the Mexican government, but these works were truncated by the change in the administration.

“In the past it was moving on how to push them forward, because they are projects with a lot of geological risk, but there are international mechanisms that help to overcome these financial costs that were truncated with the change of administration,” said the director in an interview with El Financiero , in the Energy Meet Point forum framework.

He stressed that they are interested in developing wind and solar renewable electricity generation projects, this according to the expansion of their other businesses that are mining and rail transport.

“The reality, although we have our needs met, there are mining projects as in other businesses, which implies additional electricity and water requirements, there we are investing,” he said.

Source: El Financiero