Business · Energy & Commodities · 3 hrs ago
Mexico Set to Approve Up to $12.5 Billion in Renewable Energy Projects
Mexico’s state power utility is expected to approve up to 60 renewable energy projects, most of them solar.
The projects could add 8.2 GW of electricity generation capacity, with investment reaching $12.5 billion.
The number approved may be lower than 60, and the plans are part of the government’s goal to add about 32 GW of power capacity by 2030.
The share of that new capacity expected to come from renewable sources such as solar and wind has fallen from about 70% to around 30%.
The projects are part of President Claudia Scheinbaum’s push to expand renewable energy, while the government also aims to grow oil production and keep the state utility responsible for at least 54% of electricity generation.
New transmission lines may also be needed to carry power from renewable sites to places where it is used.
The utility’s approval decisions are expected next, but the exact number of projects and their final cost are not yet clear.
Mexico’s Federal Electricity Commission is set to approve up to 60 renewable energy projects, with investment potentially reaching $12.5 billion.
The projects could add 8.2 gigawatts of generation capacity, mostly from solar power.
The number approved may be lower than 60, according to sources cited by Bloomberg.
The projects would contribute to a government target of about 32 gigawatts of new power capacity by 2030.
Private companies are expected to play a role in the expansion under energy reforms that reserve at least 46% of electricity generation for private generators.
- Who
- Mexico’s Federal Electricity Commission is expected to approve the projects.
- What
- Up to 60 alternative energy projects, mostly solar, could receive approval. They could add 8.2 gigawatts of capacity and attract up to $12.5 billion in investment.
- When
- The commission was expected to approve them on October 20, 2026.
- Where
- Mexico.
- Why
- The projects would contribute to the government’s target of about 32 gigawatts of new power generation capacity by 2030.
This story does not have two clearly opposing sides.
President Claudia Scheinbaum said Mexico was working to increase renewable energy’s share of electricity consumption by 2030.
The energy ministry reported 42 solar and 13 wind projects in the pipeline.
The Federal Electricity Commission was expected to approve up to 60 alternative energy projects.
- Potential investment
- Up to $12.5 billion
- Potential project count
- Up to 60
- Planned new capacity
- 8.2 gigawatts
- Government capacity target
- About 32 gigawatts by 2030
- Pipeline solar projects
- 42 projects totaling 6.86 gigawatts
What people are saying
Mexico not only has oil: it has sun and wind, clean energies that allow for fewer environmental impacts
We are working on the energy transition: moving toward greater participation of renewable energy sources in the electricity we consume. And that is the most important objective between now and 2030.