1Q18 is finishing with plenty of energy. Mexico sets a step forward towards its energy transition as CFE’s Fibra E increased its value by 28 percent, while Enel Green Power committed to invest US$95 million in power plants. In the US natural gas is expected to take over renewables in power installation during 2018, while on 1Q18 the number of wind PPAs broke records and in California all houses will have to incorporate advanced efficiency measures and rooftop PV solar panels by 2020. Meanwhile, IRENA states that in 2017 renewables created 500,000 jobs globally. Back in Mexico, the first Latin American Mobility Summit took place on May 8 and 9 in Mexico City. To get to know more about the summit, check out our blog.
-Ready to find energy for the week? Here’s your weekly news roundup:
CFE signed a collaboration agreement with INE to ensure the supply of reliable power during the next federal elections process on July. CFE is therefore at the moment inspecting the over 300 buildings in which INE offices are located.
The Mexican company LM&TH Automóviles, located in Puebla, designed and manufactured the first fully Mexican e-vehicle. The car has an autonomy of 100 to 120km per charge, and reaches a velocity of 80km/h. To get to know more about the relation between mobility and energies, check out our blog that talks about the Latin American Mobility Summit that took place in Mexico City.
According to Barclays, CFE’s FibraE titles have a potential to increase their value by 28 percent during 2018. This growth is external to the estimated 12 percent of dividends that the titles will offer.
Israel-based geothermal energy company Ormat agreed on a US$125 million loan to build a power plant in Honduras with a power output of 35MW.
US natural gas is expected to overtake renewables in driving power capacity additions during 2018. This is supported by the fact that out of the 2GW installed during Jan. and Feb., 98 percent was in the form of natural gas technologies. But renewables are not leaving the game in the US. According to the AWEA wind developers in the US signed 3.6GW of PPAs during the 1Q18, the highest level recorded to date.
According to IRENA’s figures, global renewable energy sector added over 500,000 jobs in 2017. This makes up for a year-to-year rise of 5.3 percent, reaching a total headcount of 10.3 million globally.
The German utility Uniper launched a pilot project to produce methane gas from wind power. This will be done at a five-year-old wind farm that is already producing hydrogen by powering a hydrolysis process with the electricity from the wind farm. The transformation will be done as methane will provide a higher quality material with more diversified uses.
Shell acquired a majority stake in microgrid developer GI Energy for an undisclosed amount. This marks Shell’s sixth investment or acquisition of a company working on the grid edge since the beginning of 2017, reported GTM.
Starting in 2020 almost all new homes in California will have to incorporate advanced efficiency measures and rooftop PV solar panels. This was possible thanks to the fact that the California Energy Commission voted unanimously to adopt the policy on May 9 as part of the state’s Building Energy Efficiency Standards.
For more articles on Mexico’s energy industry, check out our blog!