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(Bloomberg) — Mexico signed an agreement to send a floating gas power plant to the Yucatan peninsula, the latest in a series of private partnerships aiming to boost electricity generation and shore up the nation’s grid against seasonal blackouts.
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Turkish energy fleet owner Karpowership and Mexico’s grid operator Centro Nacional de Control de Energía, or CENACE, signed a deal to deploy the floating power plant alongside a liquefied natural gas terminal ship, according to a document seen by Bloomberg.
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The project will add 250 megawatts of generation to Mexico’s 90-gigawatt-capacity grid that can be tapped during peak demand times over the next three years, the document showed. The floating power plant, a ship that will be fueled by another vessel outfitted as an LNG terminal, will arrive in Mexico in the coming weeks and begin operation after coordination with Mexican authorities, according to the document, which didn’t disclose a dollar amount for the deal.
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Mexico’s energy ministry didn’t respond to a request for comment.
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The Yucatan peninsula, one of Mexico’s largest tourist hubs, is among the country’s fastest growing markets for electricity, with demand expected to grow by 3.8% annually, according to Mexico’s National Electric System Development Program, or PRODESEN. The region including vacation spots such as Cancun has historically suffered from seasonal blackouts during peak demand times, as the government seeks to build new infrastructure to boost gas-fired electricity generation capacity there.
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The partnership comes amid a slew of other joint ventures in power generation, pipelines and renewables as President Claudia Sheinbaum seeks to attract private capital back into Mexico’s energy sector. The government is planning to offer tender proposals for the majority of its new energy ventures this year and is seeking to increase public and private investment by 34% compared with 2025, Energy Minister Luz Elena Gonzalez said last week.
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Karpowership currently operates in Ecuador, Guyana and the Dominican Republic, and has similar LNG-to-power projects in Brazil, Senegal and Indonesia, according to the document.
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