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Cannon Power Group to invest $2.5 billion in Mexican wind farms

NewEnergyWorldNetwork.com
Friday July 8, 2011

US company Cannon Power Group will make a $2.5bn investment into new wind farms in Mexico.

It is currently active in the Baja California peninsula and, according to reports, will build another wind plant there as well as a wind farm in the central state of Zacetecas and a further project in the southern state of Quintana Roo.

The Cannon Power Group has created a new subsidiary in order to support the increased activity in Mexico. Company chairman Gerry Monkhouse will operate the newly-formed Mexico Power Group.

Mexican President Filipe Calderon has set a target of producing 2GW of electricity through wind generation by the end of his term next year. It currently produces around 500MW from wind. Danish power producer Vestas was contracted to supply a 28.8MW order for wind turbines in Mexico last month. Not just consigned to wind projects, Spanish company Abengoa will develop a solar-gas plant in Aqua Prieta, close to the US border.

Calderon said that the capital commitment from Cannon brings foreign investment during his term up to $100bn, it was reported in Reuters.