By Anthony Harrup
MEXICO CITY--Mining, railroad and infrastructure company Grupo Mexico said Monday it has agreed to combine its electricity-generation assets with private power producer Saavi Energia.
The operation would create a platform with 14 power stations in Mexico with generation capacity of 4,510 megawatts, as well as a portfolio of growth projects for an additional 5,000 megawatts, Grupo Mexico said in a release.
Following the combination, which the company expects will close in the third quarter, Grupo Mexico would own 70% of Saavi Energia. Global Infrastructure Partners, part of BlackRock, would own the other 30%.
Grupo Mexico said it expects the alliance will lead to a long-term commercial relationship with Global Infrastructure Partners to explore collaboration in the infrastructure sector in Mexico and abroad.
Write to Anthony Harrup at anthony.harrup@wsj.com