ENGIE and Reykjavik Geothermal Jointly awarded 3 Geothermal Exploration permits in Mexico

ENGIE announced that the Mexico’s Ministry of Energy (SENER) has jointly issued 3 exploration permits to ENGIE and Reykjavik Geothermal. These permits authorises them to spend three years exploring geothermal resources located in three zones, each measuring 150 km2, in Sangangüey (in the state of Nayarit) and in Cerro Pinto and Las Derrumbadas (in the state of Puebla).

The SENER, Mexican Development Bank Nacional Financiera (NAFIN) and the Inter-American Development Bank (IDB) jointly backed the development of a programme designed to curb the risks of exploration. This has played a key role in attracting private developers and will be a key element in helping the various actors to overcome the barrier to exploration in the domain of geothermal development.

Storengy CEO, Cécile Prévieu said that they are very confident regarding the potential of those areas, in order to develop carbon-free projects, which are at the heart of our strategy.

Reykjavik Geothermal CEO, Gudmundur Thoroddsson said that with these three licenses granted, Reykjavik Geothermal reinforces its position in the Mexican geothermal market.

Efrain Villanueva Arcos, General Director of Clean Energies of SENER stated that ranting these exploration permits to a partnership between France and Iceland marks a major step in the implementation of the geothermal energy reform since they are the first 100% foreign capital companies to invest in the Mexican geothermal industry.

Image Source: ENGIE