AES launches Mexico joint venture

摘要

AES has formed a joint venture with Mexican conglomerate Grupo Bal to develop electricity projects under the terms of the nascent Mexican energy reform. Grupo Bal owns the world's leading silver producer, Penoles; Mexico's poshest department store chain, Palacio de Hierro; and the nation's leading insurance company. Recently it also added Petrobal, an oil company that won a block in last year's upstream auctions, the first in 77 years that ended the Mexican state monopoly in oil.