GE Energy Financial, Abengoa To Invest US$180 Mln In Mexico Cogeneration Power Plant

Source:dailymarkets.com
GE Energy Financial Services, a unit of diversified conglomerate General Electric Co. (GE), said Monday that the company and Spain-based renewable energy company Abengoa SA will invest US$180 million to develop the largest cogeneration power plant in Mexico.

Cogeneration is the simultaneous production of electricity and heat using a single fuel source such as natural gas, harnessing heat that would otherwise be wasted. This can result in higher thermal efficiency or higher heat values, while carbon dioxide emissions can be substantially reduced.

The 300-megawatt gas-fired facility, with a total project cost of US$640 million, will be located at the Nuevo Pemex gas processing complex, near Villahermosa, Tabasco. The Nuevo Pemex complex is owned by Pemex Gas y Petroqu?mica B?sica, a subsidiary of Mexico’s state-owned oil company Pemex. Nuevo Pemex processes gas from on- and off-shore Mexican gas fields.