Iberdrola Mexico Signs Power Purchase Agreement with Soriana

Iberdrola Mexico has signed an agreement with department store chain Soriana, to provide electricity to the group’s stores located in the state of Baja California under the new Wholesale Electricity Market (WEM).

Under the agreement, Iberdrola will provide electricity to 55 Soriana stores and 14 Comercial Mexicana stores located in the state. The power will be supplied from the Baja California III combined-cycle power plant situated in Ensenada, Baja California, which was commissioned in January of this year and has an installed capacity of 314 MW. The CO2 emissions released by Iberdrola Mexico’s combined-cycle power plants are 10 percent lower than the national grid average.

Soriana CFO Rodrigo Benet said, “We have been working with leading energy company Iberdrola for more than 11 years, during which time our cooperation with them has expanded to cover 145 stores across 15 Mexican states, and counting.”

Iberdrola’s Corporate Director in Mexico Enrique Alba, expressed similar sentiments by saying “I am greatly satisfied to join Soriana in signing the first contract between a qualified supplier and a qualified user in the new Wholesale Electricity Market, which meets all the requirements established by the Energy Reform.”