Lorenzo Zambrano, chairman and chief executive of Cemex, said Thursday that work on a wind-driven power plant that would provide a third of the company’s domestic energy needs is in the "execution stage."
Speaking to reporters before the company’s annual shareholders meeting, Zambrano said the plant was being built in the southern state of Oaxaca by Spain’s Acciona Energia, which was putting up the expected construction cost of $400m.
Zambrano didn’t provide details on when the power station, which will have a capacity of up to 250 megawatts, will be operational.
Cemex has spent the last six years shifting much of its energy use from fuel oil to petroleum coke. In that time, the company has achieved annual energy savings of $400 million as petroleum coke has gone from less than 25% to about 50% of its fuel consumption, he said.
"The substitution of coke for other fuels has ended," said Zambrano, adding that the company is now seeking additional energy savings from wind-driven power, as well as using other fuel alternatives in Europe and elsewhere.
One of the country’s first so-called "self-supply" power plants, located in northern San Luis Potosi state, generates 230 megawatts using petroleum coke for Cemex facilities.