Gas Natural acquires five Mexico plants for $1.4 billion

Gas Natural Group (Barcelona, Spain) has taken control of five combined-cycle plants in Mexico that were in the hands of EDF Energy (Paris) and Mitsubishi Corporation (Tokyo, Japan). The $1.4 billion acquisition was materialized after obtaining the necessary approvals.

The acquisition has been approved by the Mexican regulatory bodies responsible for assessing the transaction: Comision Federal de Competencia, Comision Federal de Electricidad, and Comision Reguladora de Energía. The acquired assets are the 495-megawatt (MW) Anahuac plant (Rio Bravo II), the 495-MW Lomas del Real plant (Rio Bravo III), the 500-MW Valle Hermoso plant (Rio Bravo IV) and the 495-MW Electricidad Aguila Altamira plant in Mexico's Tamaulipas state. A 54-kilometer pipeline, which supplies and connects the four plants and the 248-MW power plant in Coahuila state, were also part of the deal.

Gas Natural operates 6,373 MW of installed power generation capacity in Spain (3,600 MW), Puerto Rico (540 MW) and Mexico (2,233 MW), where it distributes through its subsidiary Gas Natural Mexico. Gas Natural Mexico has concessions to distribute gas over nine states and a distribution network of more than 15,200 kilometers. This new deal represents the entry of the Spanish energy company into the Mexican electricity generation business as the second biggest private operator.

Industrial Info Resources (IIR) is the leading marketing information services company for the industrial process, heavy manufacturing and energy-related markets throughout the world. Celebrating its 25th anniversary, IIR provides accurate and timely intelligence featuring plant and project information databases, focused market databases, industry forecasting, key industry contacts, industry and territorial map products, direct marketing services and applications, and daily industry news.