Canadian renewable power producer Innergex Renewable Energy Inc. signed a memorandum of understanding Tuesday with the Comisión Federal de Electricidad (CFE) to partner on renewable energy project opportunities in Mexico.
"We are extremely pleased to be collaborating with CFE to develop renewable energy capacity in Mexico and we look forward to leveraging our unique expertise, especially in small hydro development and operation,” Michel Letellier, president and CEO of Innergex, told Latin Business Daily. "This is an important first step in working with high-quality local partners to establish a long-term presence in Mexico.”
The agreement between Innergex and CFE is an example of how companies are taking advantage of Mexico's new economic reforms.
“The agreement between Innergex and CFE represents an opportunity to export our know-how and clearly demonstrates that Quebec 's expertise in the renewable energy sector is recognized around the world,” Jacques Daoust, Quebec Minister of the Economy, Innovation and Exports, said.
CFE is a government initiative in Mexico that produces and distributes electricity for more than 38.5 million customers. CFE has an installed capacity of nearly 55,000 MW.
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