Grupo Dragon will be the first private company to take advantage of geothermal resources in Mexico, said CEO of Dragon, José Pablo Fernandez. The concession agreement is for a project located in San Pedro Lagunillas, Nayarit, where, in the first phase 25 MW will be generated by next summer. Another 25 MW will be added in the second stage. Grupo Dragon plans to spend 2.6 million pesos from exclusively-Mexican investors to access thermal energy buried in the earth; the concession also includes the purchase of land on which to situate the project. A consistent source of clean, renewable energy holds potential for domestic stakeholders and those abroad; Energy Secretary Pedro Joaquin Coldwell explained that with the changes in regulatory policy toward renewables, including CFE concessions and exploration permits, Mexico may become the third largest generator of geothermal energy globally. The Secretary goes on to say that capacity could increase up to 75 percent from current installations, achieving 534 MW of output, thus surpassing Indonesian production and falling into line just behind the Phillipines and the United States. Grupo Dragon has been in talks with the Federal Electricity Commission (CFE)to be at the forefront of several geothermal projects in Mexico since August.
To read more about Gruop Dragon’s involvement in Mexico, click here, here and here.
