As CRE grants the first three permits for basic suppliers to get in business, GBM cancelled its participation in Chabacal I and II, TPI Composites extended its contract with GE and Canadian Solar secured financing for its solar park in Aguascalientes. Meanwhile, the world reached 1TW of installed solar and wind capacity, with the second TW expected by mid-2023. Envision buys Nissan’s battery business and SIEMENS announces plants to purchase Mendix.

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

 

NATIONAL

 

CRE granted basic supply services permits to BH Energy Supply, Enlace y Representación Gubernamental T&M and Suministro Básico del Centro SUBACE. This means that residential end users will now have four different options to hire electricity supply services. As the permit has just been granted, their participation in the market will start after the fifth long-term electricity auction takes place.

Bartlett, soon to be Director General of CFE, stated that his task in that position will be to rescue the company and turn it competitive.

 

 

Canadian Solar announced it has closed a US$45 million financing for the construction of its 68MW solar power plant in Aguascalientes. The financing was arranged with Natixis.

Tania Ortiz becomes the new CEO of IEnova, replacing Carlos Ruiz. She will take responsibilities starting September 1, 2018.

IDB approved a loan modification for Mexico to increase geothermal energy generation. The modification totals US$108.6 million to increase private investment in geothermal by putting at the developers´ disposal a number of financial mechanisms tailored to meet the specific needs of each project at every step of their development.

 

 

Hidalgo aims to create a State Energy Agency with the objective of taking the maximum advantage of the opportunities brought by the Energy Reform. The state is also planning to create a Law for the Sustainable Energy Development of Hidalgo.

GMB Infraestructura transferred its participation on wind farms Chabacal I and II, in Yucatan, to is operating partner, therefore cancelling its participation in the project.

Wind-turbine blades manufacturer TPI Composites announced an extension of its blade supply agreement with GE for GE’s production sites in Mexico. The agreement will then run through 2022.

 

 

 

INTERNATIONAL

 

Envision wants to purchase Nissan’s battery manufacturing business. According to Yasuhiro Yamauchi, Nissan’s CCO, “the transaction will enable Nissan to concentrate on developing and producing market-leading electric vehicles.”

Bloomberg NEF data indicates that the world reached 1TW of wind and solar generation capacity. According to the company, the second TW will be reached by mid-2023, and cost 46 percent less than the first.

Engie secured 230MW of solar capacity out of the 710MW awarded during France’s latest capacity auction. The average price for the auction was of €52.1/MWh for large ground-based power plants.

SIEMENS announced its plants to finish the purchase of Mendix by 1Q19 for a total of €600 million. The purchase has the objective of SIEMENS strengthening its industrial digitalization business unit.

 

 

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

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