Cannon spins off its Mexico wind-power developments

Cannon Power Group, the San Diego renewable energy developer, is spinning off some of its rights to wind development projects in Mexico to a new company formed by its chairman.

Gerry Monkhouse, who founded Cannon more than three decades ago, will head Mexico Power Group. Monkhouse, who lives in Mexico, will also stay on as Cannon’s chairman.

The new entity will develop wind projects in the states of Baja and Zacatecas, as well as elsewhere in Mexico, with the goal of selling power to Mexican purchasers. The new entity will seek to form public-private partnerships.

Cannon says the reorganization is “due to the substantially increased volume of activity of its Mexico projects”.

Cannon has been bullish on prospects for renewable Log in to read complete article.

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