Ternium, Tenaris and Tecpetrol plan to build a combined cycle power plant in Pesquería, Nuevo León, with a capacity of 900 megawatts. The project, named Techgen, requires an investment of US$1 billion, of which 90 percent is already implemented or committed, according to Máximo Vedoya, Executive President of Ternium Mexico. The power plant will start operations in August 2016.
In an interview with local media, Vedoya said: "Energy reform is a watershed in Mexico. It’s a shame about the drop in oil prices because it will delay the benefits, but nevertheless, reform is good—it will lower energy prices and increase competitiveness the industry.”