January 13, 2015 / 3:25 AM / in 4 years

Mexico sees $14 bln in wind energy investment by 2018

MEXICO CITY, Jan 12 (Reuters) - Mexico expects some $14 billion of investment in wind farms between 2015 and 2018, which will more than triple installed capacity in the country, the energy ministry said on Monday.

The planned investment aims to raise Mexico’s wind energy capacity from some 2,551 Megawatts (MW) to 9,500 MW, Energy Minister Pedro Joaquin Coldwell told local radio.

Mexico’s state-run electricity company CFE is due to oversee a sizeable chunk of the investment, aiming to develop eight wind parks generating 2,300 MW at a cost of some 52 billion pesos ($3.55 billion), the ministry said.

Coldwell said a mix of international and Mexican companies had pledged to help the country boost installed capacity.

Mexico depends heavily on oil and gas to power the country and is seeking to diversify its sources of energy. ($1 = 14.6390 Mexican pesos) (Writing by Dave Graham; Editing by Simon Gardner)

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