Mexican ferroalloys and manganese producer Minera Autlan announced this week it has bought the remaining minority stake at energy company Compañía de Energía Mexicana (CEM).
Minera Autlan was already a shareholder at CEM, and now it will own 100 percent of the company, according to a document filing.
The company said the acquisition of the minority stake will help it “maximize” its value in a near future through renewable energy. Minera Autlan expects the purchase of the minority stake to help it grow revenues.
Minera Autlan said CEM signed its first deal to supply electricity to a third-party client through a power purchase agreement (PPA). CEM will provide 10 percent of the electricity it produces annually from its Central Hidroeléctrica Atexcaco plant to the new client; Minera Autlan did not disclose the client’s name.
CEM should start supplying electricity to the undisclosed client within the “next few months” for a period of two years.