Mexico

According to GTM Research’s report, Global Solar Demand Monitor, Latin America will account for 11 percent of global PV demand by 2022, while it currently accounts for only 3 percent. The report puts great emphasis in Mexico achieving low costs for the installation of PV, which go as low as $20.84 per MWh, and are now lower than the costs for gas and coal that range from around $40 to $80 per MWh.

The Ministry of Energy published on the DOF the Contracting Manuals for Transmission and Distribution Services’ Coverage as well as the Manual for the Development of the Market Rules, bringing the electricity market in Mexico closer to maturation.

International

The IDB will provide a US$1 billion loan to Empresas Públicas de Medellín to support the construction of the 2.4GW Ituango hydropower plant in Colombia.

New York city announced its plans to divest US$5 billion from fossil fuels companies. This is the first stage of the city to divest the total US$189 billion pension funds from fossil fuels within five years. The major of the city, Bill de Blasio, also announced its plans to sue five major oil companies for them to contribute in the creation of a more resilient city, able to cope with the dangers associated to climate change.

Welsh’s government offered to make an investment to help cover some of the projects costs of the 320MW Swansea Bay tidal lagoon project.

During 2017 Portugal was powered 44 percent by renewable energies according to the Portuguese Association of Renewable Energy (APREN). Last week, Denmark announced it was powered 43.5 percent by renewables.

Fluence Energy, a JV from Siemens and AES, announced the launch of business operations. The company aims to tackle the energy storage market.

Engie placed its first Green Hybrid Bond of €1 billion with a coupon of 1.375 percent, and a non-call period of 5.25 years.

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

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