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Latin America Business News

Mexico Plans $2.5 billion Investment in New Wind Farms

The Mexican government recently announced plans for a $2.5 billion investment in new wind farms as part of its plan to expand renewable energy throughout the country.

President Felipe Calderon has stated he wants to see 2000 MW of wind energy being produced by next year when he leaves office.  That would mean an increase of 1500 MW.  In order to accomplish this loftly goal the country is working with U.S. based Cannon Power Group.

As the country sees its oil production decline and its internal energy demands increase the government sees renewable energy as its future. 

The Cannon group is providing the majority of investment and currently has a project in Baja California.  The wind farms are expected to be in the states of Baja California, Zacatecas and Quintana Roo. 

It is expected that the first wind farm will be operational by January, 2012 and that energy is expected to be sold to the Riviera Maya resorts.