Cemex invests nearly US$250 million in alternative fuels over six years

Mexican cement company Cemex has invested close to US$250 million (€229.69 million) in efforts to replace fossil fuels with alternative energy sources over 2009-2014. This has generated estimated recurring savings of US$130 million/year, depending on the cost of fossil fuels, and according to sustainability director Vicente Saiso, the business is generating 25% of its local consumption and 14% on a global level. The group has also created Cemex Energia, a new division for the development of renewable

April 1, 2015 Read time: 1 min

Mexican cement company 643 Cemex has invested close to US$250 million (€229.69 million) in efforts to replace fossil fuels with alternative energy sources over 2009-2014.

This has generated estimated recurring savings of US$130 million/year, depending on the cost of fossil fuels, and according to sustainability director Vicente Saiso, the business is generating 25% of its local consumption and 14% on a global level.

The group has also created Cemex Energia, a new division for the development of renewable energy projects that will be responsible for installing a number of projects nationwide in order to take advantage of the energy reform.

It has initiated self-supply projects with a recent focus on renewable energy, such as its wind farms in Nuevo Leon and Oaxaca, as it believes that these power sources have a greater future.

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For the eighth consecutive year, BMV included CEMEX in its Sustainability Index, which comprises the top performers in the three pillars of sustainability