CFE’s Trust for Altán Debt, Solar Projects, and LNG Exports

In this week’s roundup, CFE has established a trust with Banco Azteca to manage and repay Altán Redes’ substantial debt. This move follows a bailout and includes a major investment in expanding Altán’s network, aiming to achieve nearly universal internet access.

The Ministry of Agriculture has installed solar panels, aiming to cut energy costs and reduce CO2 emissions. Meanwhile, New Fortress Energy has received approval to export LNG to non-FTA countries, expanding its global footprint from its Altamira project. 

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CFE Creates Trust With Banco Azteca to Settle Altán Redes’ Debt

CFE set up a trust with Banco Azteca to manage and repay Altán Redes’ debt, following a US$388.1 million bailout in 2022. The trust will handle over MX$30 billion in debt, with payments ranging from 10% to 100% to creditors. Additionally, CFE’s subsidiary CFE-TEIT is expanding Altán’s network to improve internet access in Mexico, investing MX$30 billion in infrastructure. 

Mexico's Role in Green Hydrogen: Opportunities and Challenges

At the Clean Hydrogen Forum in Mexico City, international stakeholders emphasized Mexico’s crucial role in green hydrogen production. Japan’s JBIC and European firms like DH2 Energy and HDF Energy are investing in the sector, supported by the new government’s decarbonization focus. Key projects include DH2 Energy’s solar-hydrogen facility and HDF Energy’s Energia Los Cabos. Despite challenges, the sector could attract US$60 billion in investments and create three million jobs by 2050, with growing global demand for clean hydrogen.

SADER Installs Solar Panels Saving 36% on Energy Costs

Mexico’s Ministry of Agriculture has installed 399 solar panels, expected to cut electricity costs by 36% and generate 225,500kWh annually. This project, part of the country’s Energy Transition Law, will reduce CO2 emissions by 132t per year and earn the 2024 Federal Public Administration Recognition. The installation includes LED lighting and modernized infrastructure.

NFE Authorized to Export LNG to Non-FTA Countries

New Fortress Energy has been authorized by the US Department of Energy to export up to 1.4 million t of LNG annually from its Fast LNG 1 project in Altamira, Mexico, to non-FTA countries. This five-year approval, effective from Sept. 3, follows the project’s initial output in July and a recent court ruling allowing continued LNG export approvals. The company aims to expand its global LNG presence, targeting markets like Brazil and Jamaica.

Transition Industries Completes ESIA for Pacifico Mexinol Methanol Project

Transition Industries has completed public consultations in Mexico on the Environmental and Social Impact Assessments (ESIA) for its Pacifico Mexinol project, a major methanol production facility near Topolobampo, Sinaloa. The ESIA, aligned with IFC standards, reports minimal environmental and social impacts due to the project’s sustainable design. The facility, set to be the largest ultra-low carbon methanol plant globally, will produce green and blue methanol using advanced technologies. The project aims to break ground in early 2025 and start commercial operations by early 2028.

MASPV and Fundeen Launch €1.8 Million Crowdfunding for Solar Projects in Mexico

MASPV and Fundeen aim to raise €1.8 million for solar energy projects in Mexico through their second crowdfunding round. The initiative will fund 17 solar installations with a total capacity of 1.718 kWp. Following a successful previous campaign that raised over €1 million, this round is open to global investors via Fundeen’s platform. The projects promise a 9.5% annual return and will cut CO2 emissions by 801 tons annually. 

Wintershall Dea Transfers Global Assets to Harbour Energy 

Wintershall Dea has transferred its production, development, and exploration assets, including rights in Norway, Argentina, Germany, Mexico, Algeria, Egypt, Denmark, and Libya (excluding Wintershall AG), along with its carbon storage licenses, to Harbour Energy. Wintershall Dea will now focus on divesting its remaining assets, closing its German headquarters, and providing transitional support to Harbour Energy. The company will also shift to a limited liability structure and maintain a small team for the transition.