ContourGlobal plc (LSE:GLO) reached an agreement to acquire Portfolio of Two Natural Gas Fired Combined Heat & Power Plants in Mexico from ALPEK, S.A.B. de C.V. (BMV:ALPEK A) for approximately $720 million on November 16, 2021. The portfolio includes Cosoleacaque and Altamira cogeneration power plants. ContourGlobal plc shall also pay an additional payment of $77m at closing as value-added tax, which is expected to be refunded in full within 12 months of closing.

The transaction also includes development rights and permits for a third plant.