Mexican builder Hycsa sets up renewable energy business

Mexican construction company Grupo Hycsa (BMV:HYCSA) said that it has set up a division focused on renewable energy, sustainability and electrification to take advantage of emerging opportunities in those fields.

The new business, called HYCSA Green Capital, will focus on solar energy projects and other clean technologies, the group said in a stock market filing on Wednesday. Its stated goal is to contribute to reducing the carbon footprint of Hycsa’s operations and provide affordable and reliable energy alternatives for communities and businesses in the markets where the group operates.

Grupo Hycsa has three business lines -- construction of roads and other infrastructure, extraction and production of construction aggregates and the provision of logistics and transportation services. The group is active in native Mexico, El Salvador, Colombia and Bolivia.

“The new division will not only focus on technological innovation and environmental sustainability, but will also be closely integrated with our existing equity and CSR initiatives, and the philanthropic efforts of the HYCSA Foundation,” the company said in the filing.

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