Mexico

The Ministry of Energy presented further details for the Mexicali-Hermosillo HVDC line, with a longitude of 1,400km and a transmission capacity of 1.5GW. The Ministry expects an investment of US$1.1 billion, and the tender process expects to have a winner by Sep. 14, 2018. As of now, 45 companies from seven countries presented their interest on the project.

During the Energy Mexico 2018 Joaquín Coldwell, Minister of Energy, highlighted Mexico’s privileged position as the sixth most attractive destination for investment in renewable energies. He also mentioned facts about the three long-term electricity auctions that have taken place: an expected investment of US$8.6 billion that will bring to life 65 new electricity centrals during the next three years. During the same event Guillermo Alcocer, President Commissioner of CRE, mentioned that Mexico’s goal of having 35 percent of its energy provided by renewable sources by 2024 will be achieved three years before, on 2021. Banobras also announced it has identified 19 energy projects to finance during 2018 for an expected investment of MX$15.5 billion

BMW announced its interest in building a PV park next to its Villa de Reyes industrial complex, for which it has already started the necessary environmental due diligence. Meanwhile, Grupo Bimbo launched its plan to provide 80 percent of installations with solar energy by 2025. This will be supported by its Bimbo solar system, which on its first stage will install 3.7MW to supply energy to 27 sales centers, seven stores, its headquarters and the CEDIS Metropolitano building

ICA Fluor Daniel was awarded with the construction of the electricity network, substations and all involved grid work coverage for the NAICM with an estimated investment of MX$3.65 billion.

International

On 2017, Germany installed 1.25GW and 5.3GW of offshore and onshore wind capacity, according to Deutsche WindGuard. Meanwhile, the US installed 7GW of wind capacity during that same year and is expected to install 8.3GW in 2018, while Canada installed 340MW. In Spain, renewables produced 33.7 percent of the country’s power in 2017.

New Jersey governor signed an Executive Order to move the state towards having 3.5GW of offshore wind capacity by 2030.

Atlantis, the tidal power company, launched a five-year bond seeking to raise around GB£2-5 million with the objective of capitalizing and working on transformational projects. Poland raised its second green bond with a value of €1 billion – the first one was launched in Dec. 2017 for €750 million – making it the first country in the world to issue two green bonds.

According to EnergyTrend’s latest report global solar demand could reach over 106GW in 2018. Compared to GTM Research’s numbers, this is 7GW bigger than 2017’s.

Statkraft and ESFORIN became the first companies in the world to trade 1MWh of electricity, through blockchain technologies, in the intraday market without the need of an intermediate platform nor a marketplace operated by third parties. “We see that in four to five years’ time, Blockchain will be able to provide many rapid, low-cost transactions in an electricity market with a growing share of renewable energy,” stated Torsten Amelung, Managing Director of Statkraft in Germany. Meanwhile WePower, a Lithuania based blockchain company, said it had raised US$40 million in its initial coin offering; and DNV GL partnered with blockchain expert VeChain to use that technology to improve transparency of product and supplier information and increasing efficiency of value chains.

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

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