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Mexico Gets $2.6 Billion in First-Ever Electricity Auction

04 April, 2016

Acciona SA,Enel Green Power,SunPower Systems and Recurrent Energy were among 11 companies that have agreed to spend at least $2.6 billion on power plants in Mexico,following the nation’s first ever energy auction,Bloomberg reported. Last week the renewable energy developers won the rights to generate and sell 2,085 megawatts of clean power to the state-owned Comision Federal de Electricidad (CFE).

“The sale was the first since Mexico decided in 2013 to allow private companies to compete for power contracts,” wrote Bloomberg. “A total of 18 projects were ultimately awarded,with solar ones making up 1,691 of the megawatts contracted.”

There are 394 megawatts remaining that will come from wind resources in Mexico,according to Energy Minister Pedro Joaquin Coldwell. Based in Rome,Italy,Enel Green Power received the largest share of available projects in the recent bid.

“We are extremely pleased about the results of this tender,” stated Enel Green Power CEO Francesco Venturini in a press release. “It marks another historic moment for the company and confirms our global leadership in the renewables generation arena.” 

Enel Green Power’s upcoming projects will include contracts for clean energy and power certificates covering three solar projects in Mexico that will total nearly one gigawatt in installed capacity. The company will reportedly invest at least one billion to build the solar projects in Mexico,which are scheduled to be completed and to enter operation by 2018. 

“For the first time in Mexico,an electricity market has been established where the generation and commercialization of energy are open to free competition,” shared CFE Chief Executive Officer Enrique Ochoa. “The projects will diversify our portfolio and help the country meet its goal of sourcing 35 percent of its power from clean energy resources by 2024.”

Acciona also won a contract during the recent Mexico electricity auction and will reportedly build a 168-megawatt wind farm in the state of Tamaulipas,which lies in northeastern Mexico on the Gulf. Dubbed the El Cortijo project,the wind farm will begin operations by 2018. 

“Mexico is a pivotal market for serious players in this field due to its huge potential in clean energy and stable regulatory framework,” Venturini stated.

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