Mexico: Renewables to produce 43% of country’s electricity by 2024

Spencer Ogden our consultant managing the role
Date posted17/Apr/2018
Spencer Ogden our consultant managing the role
Mexico's Secretary of Energy, Pedro Joaquin Coldwell, has announced renewable sources are projected to generate 43 per cent of the country's electricity by 2024.

According to Coldwell, the calculated forecast is based on the results of the energy auctions conducted by the government thus far. 

To date, the country has confirmed three completed tenders, 65 new power plants, of which 40 are solar and 25 are wind. The overall investment has been estimated at USD 8.6 billion.

The government also explained that the prices achieved at the auctions are among the lowest in the world. In one of the country’s most recent auctions, wind was negotiated at USD 17.7 per MWh and the price of solar power was USD 19.7 per MWh.

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