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Paris, Ile-de-France, France, 2015/12/07 - ENGIE, the French utility, through its wholly owned subsidiary Storengy and Reykjavik Geothermal, the Icelandic geothermal development company, will jointly study the development of geothermal projects in Mexico - RG.is / ENGIE.com. FR0010 208488
Following cooperation agreement between Iceland and French geothermal clusters signature in the presence of Ségolène Royal, French Ecology, Sustainable Development and Energy Minister and Ragnheiður Elín Árnadóttir, Icelandic Industry and Trade Minister, ENGIE and Reykjavik Geothermal have initiated cooperation to apply and develop geothermal exploration permits and concession in Mexico. Geothermal carbon-free energy is indeed Reykjavik Geothermal core business and an essential component of the energy transition in which ENGIE intends to be a key player.
The new Energy Reform initiated by Mexican President Enrique Pena Nieto offers the possibility for the private sector to enter the power generation market. Today, geothermal energy represents 823 MW, or 1.3% of the country’s installed electrical capacity, but only 6.5% of total estimated geothermal potential (13.4 GW). The country projects it could utilize its high temperature resource potential to reach 4.5 GW in 2030.
This alliance between Reykjavik Geothermal and ENGIE has been formed to facilitate an efficient pursuit of these targets. By combining both organization expertise and experience, the two companies aim to jointly take positions in the growing Mexican geothermal market.
With a staff of over 2,300 employees in Mexico, ENGIE is one of the largest private gas pipeline operators and the number 2 natural gas distributor in the country. The Group is present in Mexico in power generation (3 power plants, 300MW) and cogeneration, but also in gas distribution and transport (including 1,000 km of pipelines) and energy services.
Reykjavik Geothermal is active in Mexican geothermal business since 2011, with the participation in Ceboruco project in the state of Nayarit. RG and its partners have been awarded by SENER one of the first two private geothermal exploration permits in the region of the Ceboruco 1 volcano. RG anticipates the commissioning of the first power plant in Ceboruco in 2018.
About Reykjavik Geothermal (RG)
Reykjavik Geothermal (rg.is) is an internationally active geothermal development company focused on power development in regions which have significant yet often under-developed geothermal resources due to technical, policy and financing challenges that have historically hindered the development of geothermal. RG is active in several regions primarily in East Africa, Asia and Latin America in many cases commonly associated with the “ring of fire” while selectively exploring opportunities in the Middle East, US and Europe.
Press Mexico contact: Chris McCormick - E: chris[.]rg.is
Iceland contact: Thorleifur Finnsson - E: thorleifur[.]rg.is.
Internationally recognized expert in subsurface valuation, Storengy is one of the few operators in the world combining a wide diversity of competences including subsurface sciences, drilling techniques, subsurface/surface integrated operation and industrial security.
ENGIE (engie.com) develops its businesses (power, natural gas, energy services) around a model based on responsible growth to take on the major challenges of energy’s transition to a low-carbon economy: access to sustainable energy, climate-change mitigation and adaptation, security of supply and the rational use of resources. The Group provides individuals, cities and businesses with highly efficient and innovative solutions largely based on its expertise in four key sectors: renewable energy, energy efficiency, liquefied natural gas and digital technology. ENGIE employs 152,900 people worldwide and achieved revenues of €74.7 billion in 2014. The Group is listed on the Paris and Brussels stock exchanges (ENGI) and is represented in the main international indices: CAC 40, BEL 20, DJ Euro Stoxx 50, Euronext 100, FTSE Eurotop 100, MSCI Europe, DJSI World, DJSI Europe and Euronext Vigeo (World 120, Eurozone 120, Europe 120 and France 20).
Investor Relations contact: T: +33(0)1 44 22 66 29 - E: ir[.]engie.com