Colombia: Cemex, via its Colombian subsidiary Cemex Colombia, will launch a new business division called Cemex Energy. The initial objective is to reach energy self-sufficiency and it will also sell any excess energy generated to the national electricity system.
At present, Cemex generates 41MW of energy that covers 65% of its needs, via hydropower (12MW) and thermal and natural gas plants (29MW). Cemex's announcement follows the approval of renewable energy legislation in the country, which allows companies to participate in this area. Cemex added that energy self-sufficiency signifies major savings in relation to market tariffs. It plans to focus on biogas and wind power schemes, potentially requiring investments of US$50m during the next five years.