Mexico will add 5GW of new clean energy capacity, says Energy Secretary

Share on facebook
Share on twitter
Share on linkedin
Share on reddit
Share on email
During the winners' ceremony for Mexico's second power auction, SENER announced the imminent date for the country's third auction, as well as plans to add 5GW of new clean energy capacity. Source: SENER

Mexico will add 5GW of new clean energy to existing capacity, representing 170% growth in generation for wind and solar over the last 18 years, secretary of Energy Pedro Joaquín Coldwell has said.

At the ceremony of awarding contracts to the winners of the country’s second long-term power auction, SENER confirmed that the auctions are an effective mechanism for long-term investment and for establishing new domestic generation.

“By 2019, a total of 34 companies will invest US$6.6 billion for the construction of 52 new green power generation plans,” added Coldwell.

He also highlighted the winners for their feat of being new entrants to Mexico’s short-term electricity market. “You are a large group of pioneering investors, which shows the confidence that more than 10 countries from all latitudes, are depositing in the energy industry of Mexico,” he said.

The tariff prices achieved in Mexico’s second energy auction were highly competitive worldwide; on average 30% lower than the previous round, whilst being one of the most economical internationally. 

Mexico’s third auction date announced

During the ceremony, director general of the National Energy Control Centre (CENACE) Eduardo Meraz Ateca confirmed that Mexico’s third long-term power auction will be launched on 28 April 2017, with the ruling to come no later than 16 October 2017.

This is good news for the country, as the auctions have proved to be one of the most ostensible boons of the energy reform; resulting in long-term contracts to sell energy as well as clean energy certificates (CELs). They have also resulted in the opportunity for generators to finance low-cost investments that have allowed the country to be one step closer to realising its renewable energy goals.

After the results of the first auction, solar in Mexico was forecast by GTM Research to grow by 521% in 2016, and the International Energy Agency concurring with its forecast that Mexico is set to hit between 20-40GW of solar by 2040. The SENER’s announcement this week augments the idea that clean energy in Mexico will continue to accelerate. 

Read Next

June 11, 2021
Construction of a 10MW solar farm as part of the UK’s first hybrid solar PV, energy storage and wind site has officially begun.
June 1, 2021
Almost two thirds of people working in the solar industry expect to see double-digit sales growth this year, according to initial findings from a Global Solar Council survey.
PV Tech Premium
May 28, 2021
Grids continue to be a thorn in the side of European renewables as long connection queues and exorbitant fees risk stymying the clean energy transition. In this exclusive discussion from Large Scale Solar Europe 2021, we hear how grid operators are adapting to the demands of clean power generators.
May 19, 2021
Japanese power company J-Power has acquired a 10% stake in renewables and pumped hydro developer Genex Power through its Australian subsidiary JPGA Partners.
May 17, 2021
Portuguese grid operator Redes Energéticas Nacionais has said it will invest more than €900 million (US$1.1 billion) by 2024 in technologies and improvements to the electricity network to support the country’s green energy transition.
April 20, 2021
India presents an “enormous potential” for the development of solar and wind hybrid power systems, with more than 12.3GW of collocated tenders issued in the country to date.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
June 15, 2021
Solar Media Events
July 6, 2021
Solar Media Events
August 24, 2021
Solar Media Events, Upcoming Webinars
October 6, 2021