Atera to invest US$350 Million in Mexico

Atera Energy, a Colombian-based renewable energy company, has announced its entry into Mexico with an investment of US$350 million, driven by strong energy demand from industries such as steel and glass, as well as the growth of several data centers fueled by the boom in artificial intelligence.

The amount is part of the US$500 million that the company expects to use in various Latin American countries where it operates. "In Mexico, we have a budget of 350 million dollars, but we don't have a cap on investment at this time. “We estimated that we would be able to cover 4 percent of the Mexican self-generation market’s potential, plus some projects within the plants, and we projected that investment through 2030, but reality is showing us that the potential is much greater,” said Luis Felipe Vélez, CEO of Atera.

The company seeks to capitalize on the energy demand associated with industrial growth, the relocation of production chains, and nearshoring. Similarly, the company’s arrival coincides with the restructuring of Mexico’s electricity sector, following the passage of new legislation last year that opened the door to private investment in power generation and self-consumption.

For this reason, Vélez emphasized that the opportunity for growth in Mexico is significant, since there is a potential for self-generation of 10,000 megawatts. “We’re talking about how one megawatt can power one hectare, so 400 hectares are needed to make this system operational. However, we’re not talking about a centralized system, but rather one distributed across the country among various industries whose energy needs range from one or two to 20 megawatts,” the executive said.