Mexico grants US$ 4 billion in contracts for 36 clean energy projects

29 September, 2016

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Mexican goverment revealed the 23 winners of its second renewable energy auction, awarding 36 projects for wind and solar capacity. The selected companies will invest about US$ 4 billion over the next three years, the country’s energy ministry said.

The National Energy Control Center (CENACE) of Mexico organized the second long-term energy auction for the wholesale electric power market.

Over the next three years, the selected firms will build 8.909GWh of capacity of which 54% is for photovoltaic plants and 43% for wind farms.

The capacity awarded accounts to 3% of Mexico’s annual electricity generation. The goverment aims to generate at least 35% of its electricity from clean sources by 2024.

The winners comprise Acciona Energy, Iberdrola, Enel, Zuma Energia, Fotowatio, Engie and IEnova, among other companies from 11 different countries.

Mexico Energy Secretary Joaquín Coldwell said that the tender round received $33.47/MWh on average, representing 30% lower than the prices in previous auction.

Power generated from the proposed projects will be sold to state-owned utility Comisión Federal de Electricidad (CFE) under long-term contracts.

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