The Mexican energy sector continues to wait for the new administration to establish the plan of action when it comes to projects and policies. Last week’s announcement of the cancelation of the Electricity Auctions has taken the market by storm and the private sector is taking a stand to defend its investments.
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Mexico’s energy demand in the next 10 years will call for the generation of 400,000GW according to the Massachusetts Clean Energy Center. Which means the country will have to look for additional sources of renewable energy.
CRE has responded to AMLO’s cancelation of the electric auctions and says that the cancelation of these processes does not have the economic or technical arguments.
CCE has also stood up to defend the electricity auctions saying they would have attracted an investment of over US$1.6 billion.
During the Friday morning daily announcements, AMLO announced the consultation of the current operation of the thermoelectric plant in Morelos.
Managing Risks and Investing
The World Bank Released its Action Plan on Climate Change where it discusses the crucial role the energy sector will be playing in creating sustainable cities in the future.
Bancomext also released its Renewable Energy Report in which it explains the country’s current status when it comes to the development, financing and construction of projects.
In the meantime, Russian and Mexican businessmen will invest more than US$15 billion in the energy sector.
Iberdrola and Nike just signed a PPA. Iberdrola will produce 40 MW to supply Nike in Europe for the first time.