Pemex funds $650 million in Mexican cactus co-generation plant Financial Services

Petroleos Mexicanos (Pemex) has awarded a project to construct the 530MW Cactus Co-generation power plant in Mexico to a consortium made up of U.S-based Invenergy Clean Power and Mexico's Enesa Energia and Mexichem.

The consortium will partner on the Cactus Co-generation project with MGC Cactus, S.A.P.I., an affiliate of Pemex-Gas y Petroquímica Básica (PGPB), the state oil company’s natural gas and basic petrochemicals subsidiary.

The project focuses to strap the potential of the Cactus gas processing plant to produce electricity, which will have a basic capacity of 530MW and generate 500 tons per hour of steam.

The plant is situated in Reforma, in the southern state of Chiapas.

A total value of $650 million will be required in direct investment and generate around 1,500 jobs, as well as enhance local industry. The plant is scheduled to enter operations in the first half of 2018 and will also reduce emissions in the electricity generation.

According to the energy regulatory commission (CRE), currently, the plant consists of five 24.1MW gas turbines, generating an approximated 315GWh/y and consuming around 382,000m3/d of natural gas. The electricity produced is transmitted through an underground network.