Here is a recent Shareholder Update Letter from MMEX for February 2021.
The Company along with its international partners have entered a [letter of intent] with EPEC, the local utility in Cordoba Province to build potentially the Arroyo Cabral 48 MWe solar park for local power demand following the Company’s development of a confidential information memorandum and pre-feasibility study for the project. The financing of the project is to be provided by the Company’s international partners and other third parties.
The Company has entered a [letter of intent] with the Provincial Government of Tierra del Fuego (“Tierra del Fuego”) to supply two natural gas turbine packages with a rating of 12.9 MWe each with generator packages. The Company has entered into a commercial agreement with Siemens Energy, the manufacturer of these turbines and generators (the “Turbine Gen Sets”) for delivery to Tierra del Fuego. These turbine packages will provide additional power in locations of Tierra del Fuego that have potential power shortages.
The Company is in discussions with a super major oil company (the “Super Major”) to jointly develop a Blue Hydrogen project at the Company’s Pecos County, Texas site. The Project plans to utilize a portion of the Super Major’s 2 billion cubic feet per day natural gas production and transportation from the area to produce hydrogen utilizing a steam methane reformer technology along with carbon capture.
The Company has entered an [MOU] with Peru’s principal electric power distribution company, Luz del Sur, committing to develop a Green Hydrogen project to produce up to 55 tons per day of hydrogen, requiring 160 MWe of constant and certified renewable power load. The Company will use its Siemens Energy Electrolyzer FEED template and adapt it for Peru.
The Province of Tierra del Fuego and the Company announced the potential joint development of a green hydrogen project in the Río Grande, Tierra del Fuego area powered by wind energy. The Company has signed an MOU with Siemens Energy to adapt the Green H2 electrolyzer FEED Study completed for Pecos County to this Project. In addition, the Company has a MOU with Siemens Gamesa as the technology provider for the wind energy.