IDB to contribute $34 million in geothermal development in Mexico
Los Azufres geothermal power plant, Mexico (source: Alstom)
Alexander Richter
1 Nov 2013
The Inter-American Development Bank will contribute over USD 34 million to the development of geothermal energy in Mexico and the Mexican President announces a legislative proposal to enable the private sector to invest in geothermal projects in the country.
At the recently held Mexican Geothermal Congress, several interesting things were announced.
Among the news from the event is the announcement that the “Inter-American Development Bank will contribute over USD 34 million to the development of geothermal energy in Mexico.
Mexican President Enrique Peña Nieto will follow the Bank’s contribution with a legislative proposal to enable the private sector to invest in geothermal.
To the IDB contribution around 150 million pesos (about U.S. $ 11.5 million) will be added from the Fund for the Energy Transition and the Sustainable Use of Energy federal government, he said.
Mexico’s Minister of the Environment and Natural Resources also indicated the country’s move toward geothermal energy at the inauguration of the International Forum for Geothermal Energy, where he emphasized the importance of geothermal not just for reducing greenhouse gas emissions, but for improving Mexico’s air quality.”
Other news include some indications of a public-private partnership in form of exploration risk mitigation in the form of an insurance.
We will report more on this when we have details available.
Source: La révista energetica de Chile
