The Enel Group has been active in Latin America since 2001 and in 2007 began to invest in the Mexican market. Maurizio Bezzeccheri, Head of Enel Green Power's Latin America Area, explains the importance of the country in Enel's investment strategy: 'Mexico has a population of about 120 million people and an annual GDP growth that ranges between three and four percent thanks to an impressive trade volume. This is the result of several free trade agreements with the European Union, the USA and Japan and a number of agreements with other countries in the region, such as the Pacific Alliance with Chile, Peru and Colombia, which is a sort of mini European community within Latin America.'
Sharp population growth in countries such as Mexico and Brazil has led to an increase in the energy industry's consumer base. According to Enel CEO Francesco Starace this, along with the abundance of resources and a reliable regulatory framework, is a key condition for investment.
'The Enel Group, and Enel Green Power in particular, has invested over one billion dollars in Mexico,' continued The EGP Area Head, speaking about the Group's experience in the country and future developments. 'Our adventure in the country began seven years ago with the acquisition of three mini-power plants. In 2010, we installed an anti-hurricane PV solar power station on the rooftop of a hospital for the COP16, an international conference on climate change.
'Around 140 megawatts of wind power capacity have been built through the Bee Nee Stipa and Zopiloapan plants, while two other plants with a combined capacity of about 200MW – Sureste I-Phase II and Dominica I – are in the process of being built. We will also soon begin construction of Dominica II, which will add another 100MW.
'We have grown exponentially in Mexico, but we are not planning on stopping, and we have already identified new idea for further investment that will be brought to the board's attention.'