Grupo Bimbo SAB, the world’s largest bread maker, said it will use a $200 million wind farm to supply electricity to its Mexico plants and distribution centers.
The project will be built by Spain’s Renovalia Energy SA, which is making the initial investment, Bimbo said today in an e-mailed statement today. Bimbo agreed to buy electricity from the 90-megawatt project, which Madrid-based Renovalia plans to expand to 227 megawatts to sell power to other companies, Chairman Juan Domingo told reporters in Mexico City.
Bimbo is joining companies such as the Mexican unit of Wal- Mart Stores Inc. and Cemex SAB to use wind power to reduce exposure to oil prices and help reduce consumption of fossil fuels, which produce more carbon emissions.
Once the project is completed Bimbo expects to obtain electricity cost savings of about 5 percent, Daniel Servitje, chief executive officer of the Mexico City-based company, told reporters today in Mexico City.
Savings may increase or decrease depending on international electricity prices, which are linked to an agreed price formula with Renovalia, he said.
Mexico’s President Felipe Calderon is pledging to generate at least 35 percent of the country’s energy from so-called clean sources by 2024.
In two years, Mexico should get 26 percent of its power from clean sources, Energy Minister Georgina Kessel said today.
To contact the editor responsible for this story: Dale Crofts at email@example.com