July 16, 2020 / 4:31 AM / a month ago

Mexico's state-run utility suspends construction of four plants

MEXICO CITY, July 15 (Reuters) - Mexico’s state-run electricity firm is suspending plans to build four new plants because of the economic impact of the coronavirus pandemic, it said on Wednesday.

In a statement, the Comision Federal de Electricidad (CFE) said it had called off for now the tenders and financing for the Salamanca, Baja California Sur VI, San Luis Potosi and Los Humeros III Fase B plants.

Explaining the decision, it pointed to the “economic conditions that have affected the company as a result of the health contingency caused by COVID-19.”

CFE “maintains the financial and technical capacity” to develop these and other projects aimed at boosting power generation and strengthening the company, it added.

About 23.5 billion pesos ($1.05 billion) was to have been invested in the plants over the next three years, Mexican newspaper El Universal said. (Reporting by Julia Love; Editing by Dave Graham and Clarence Fernandez)

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