Mexico inks $394 mln in wind power projects

MEXICO CITY, June 9 (Reuters) - Mexico's Federal Electricity Commission (CFE), the state-run power company, said on Tuesday it had signed contracts for the construction of two wind farms worth $393.6 million.

The CFE said it signed a $176.6 million contract with local consortium Energias Ambientales de Oaxaca for the construction of the 101 megawatt Oaxaca 1 wind farm.

The CFE said it also recently signed a contract with Iberdrola Renewables (IBR.MC) for the construction of a 202 megawatt project known as La Venta 3, also in southern Oaxaca state.

Mexico has set a goal of having renewable power sources generate 25 percent of its electricity by 2012. (Reporting by Robert Campbell; Editing by Marguerita Choy)