President-elect Andrés Manuel López Obrador announces for priority projects to be implemented during 2019. He also named new heads for the Ministry of Energy and CFE. Also, everything runs smoothly in Laguna Verde after a thorough evaluation from the World Association of Nuclear Operators. Meanwhile, public and private companies make investment and positive results announcements in the country. Investments go up in the US and Europe, and finally PV panels break world records, with more possibilities in the pipeline.

-Ready to find energy for the week? Here’s your weekly news roundup:

 

NATIONAL

On July 27 Andrés Manuel López Obrador announced the implementation of four priority projects in the energy industry, which are expected to be covered with an estimated investment of MX$175 billion (US$9.4 billion1) during 2019. Three of the projects are related to the oil and gas industry, while the fourth one states the need of increasing electricity production. In that sense, AMLO highlighted the importance of modernizing CFE’s power plants. To begin he is aiming towards modernizing hydroelectric plants to generate clean and cheap energy, for which he expects to invest MX$20 billion (US$1.07 billion). AMLO also took the opportunity to announce Rocío Nahle as the new Minister of Energy, Alberto Montoya as the Deputy Minister of Energy, Luis Abelardo as the Coordinator of Renewable Energy Policies at the Ministry of Energy, Manuel Bartlett as CFE’s Director and Carlos Morales Mar as CFE´s Deputy Director.

CFE informed that during April the World Association of Nuclear Operators evaluated its Nucleoelectric power plant. The association concluded that the plant has not undergone any significative event that may increase potential incident risks, and that the plant is under normal operational conditions.

Iberdrola expects to produce during 2018 more electricity in Mexico than in its home country, Spain. The efforts of the company have also made it the second largest energy producer in Mexico, behind CFE.

The National Project for Energy Efficiency in Municipal Public Lightning group recognized that the program has benefited so far over 8 million citizens from 39 different municipalities. This was mentioned during the second yearly gathering to discuss together with CONUEE and municipal representatives coming from states such as Puebla, Sonora, Durango, Veracruz and Morelos.

 

 

INTERNATIONAL

Spanish company Iberdrola secured a €650 million loan from the European Investment Bank to build three new hydropower and one pumped storage plants.

LONGi will supply US$600 million worth of modules to the US market. The purchaser of the monocrystalline modules remains unidentified, but the order will be shipped over a four-year period, from 2019 to 2022.

Belgian transmission system operator Elia System Operator will buy the 20 percent stake it does not own from 50Hertz Transmission GmbH to immediately sell the interest to German state-owned bank KfW. With this move a closer Belgian-German cooperation regarding critical grid infrastructure is fostered.

 

 

German energy firm Innogy completed the acquisition of 2GW onshore wind pipeline in the US. The pipeline comprises three wind projects in late development stage: Cassadaga of 126MW, Baron of 270MW and Scioto Ridge of 200MW, among many others. Financial details have not been disclosed yet.

Belgian research institute Imec announced it achieved a 21.7 percent efficiency on a perovskite/silicon tandem cell. The institute also mentioned that through careful engineering of the perovskite material efficiencies of more than 30 percent will be reached. Meanwhile, scientist from the University of Exeter developed a method that has the potential to harvest three times more PV energy compared with traditional systems by funneling the energy more efficiently. According to the researchers, the innovation could lead to solar panels that have the size of a book and can power a family-sized house.

 

 

1Exchange rate of July 28, 2018 –  US$1 = MX$18.6

For more articles on Mexico’s energy industry, check out our blog!

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