Mexico               

Both CNH and CRE received a 24 percent increase compared to their original budget petition for 2018. This comes after constant budget cuts suffered by the regulators during the last three years.

The Interamerican Development Bank announced that it will support FIRA, the Mexican development bank for the farming, rural, forestry and fishing sectors, to allocate its first green bond.

FIRA. Logo taken from FIRA

FIRA. Logo taken from FIRA

The preliminary results of the third long-term electricity auction in Mexico have been published. It is expected that they will bring approximately US$2.4 billion with the installation of 15 different projects with a total capacity of 2.56GWs in the following three years. The average price for a MWh of energy, with its associated CEL, was of US$20.57, one of the lowest prices internationally. On Nov. 22 the official winners will be announced.

Third Long-Term Electricity Auction. Photo taken from SENER

During the third long-term auction the Italian energy company Enel set a new world record for low prices, with a solar power bid for US$17.7 per MWh. This bid is just 2 cents below the recent world record achieved in Saudi Arabia.

The Ministry of Energy signed a collaboration agreement with Houston Technology Center and COMENER to use over US$1 million in the Innovation Mission program. The program is planned to incentivize applied research in the solar, wind, geothermal, biomass and wave energy sectors.

SENER, COMENER and HTC. Photo taken from SENER

The development banking, through Bancomext, Banobras, Nafin and the Nadbank announced the financing of the Orejana and Santa María solar projects with US$249 million to be located in Sonora and Chihuahua and with capacities of 158MWs and 179MWs, respectively.

International

The Climate Bonds Initiative announced that, for the first time, green bonds on a global level reached the US$100 billion milestone. This comes one month and a half earlier before 2017 finishes, meaning that they could reach US$130 billion by the end of the year.

Iberdrola announced its intentions to complete the elimination of its coal generation capacity in Spain. This comes as the company asked for permission to decommission two plants totaling 874MW.

A research done by the University of Delaware showed how, by completing most of the construction and assembly on land, projects can save up to 37 percent of its costs for offshore wind farms.

Enel announced that its new 320MW US wind project to be constructed in Nebraska, called Rattlesnake Creek, will power up Facebook’s data center.

The Hydrogen Council announced, through a report, that hydrogen could meet 18 percent of the total final energy demand globally by 2050.

Ørsted, formerly known as Dong Energy, plans to issue green senior bonds and green hybrid capital securities to extend the duration of its senior debt maturity profile and refinance €500 million in securities issued in 2013.

IRENA together with the Abu Dhabi Fund for Development (ADFD) opened applications for a funding round of US$50 million in concessional loans for renewable energy projects in developing countries.

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

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