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LatinNews Daily - 16 July 2021

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In brief: Mexico’s CFE announces investment in hydroelectric plants

* The Comisión Federal de Electricidad (CFE), Mexico’s state-owned electricity firm, has announced that it will invest US$1bn in modernising 14 of its hydroelectric power plants. According to the CFE, the investment plan will allow it to increase its electricity generation by 1.860 GWh a year and extend the plants’ production life by an additional 50 years. The CFE highlighted that the plan will allow it to increase its generation capacity while avoiding the higher costs associated with building new power plants, the long construction times for these to be completed, and the social and environmental issues associated with new projects by strengthening the existing national electricity infrastructure. It also noted that the resulting increase in generation capacity is equal to that produced by six wind farms and eight 100MW solar parks. The modernisation works at the hydroelectric plants are slated to be completed by 2024.