Comision Federal de Electricidad (CFE) in Mexico will allocate $1 billion for the modernization of 14 hydroelectric plants.
According to BNamericas, the project was announced during the 44th regular session of the CFE Board of Directors. Miguel López López, deputy director of administration and services of CFE, announced that this innovation would be carried out under a financial mechanism that allows companies to access better rates of implementation.
“The Plan will have an investment of one thousand MDD. Fourteen plants that have decreased their reliability and the useful life of their equipment (turbine, generator and transformer) will be modernized,” Lopez explained.
CFE said that the Modernization Plan would provide the following benefits:
- Increase annual generation by 1,860 GWh.
- Build on existing infrastructure and historic investment.
- Avoid costs of new plants, construction times and socio-environmental problems.
- Modernize the equipment, extending the useful life of the plants for 50 more years, strengthening the National Electricity System.
Lopez that the 14 plants that will be modernized (which were not named) are expected to open by the first quarter of 2024 at the latest.
Carlos Morales Mar, corporate director of operations, stressed the importance of carrying out this Modernization Plan, which he said “comes to give 50 more years of life and takes advantage of all the existing civil infrastructure.”