López Obrador Announces Reforms Despite Election ResultsBy Cas Biekmann | Thu, 06/10/2021 - 17:23
Despite Sunday’s election revealing that President López Obrador ruling coalition will not be able to reach a supermajority needed to change the constitution, a new reform will still be presented in the future. In other news, companies grow their renewable energy supply and the US examines Gulf of Mexico wind potential. Read the roundup here!
Election Results Benefit Energy Sector Stability, Experts Say
Even though President López Obrador’s name was not on the ballot, the June 6 midterm elections in many ways served as a referendum on his policy direction. After he took office in 2018, Mexico’s productive industries found themselves in a shifting environment. Halfway through his six-year term, the elections set the stage for what is to come in energy, mining and oil and gas. Without a qualified majority needed to make constitutional changes, the landscape has shifted for the better, agree experts.
President Nevertheless Announces New Reform
Despite the setback of the elections results, President López Obrador announced this morning that the government could eventually go ahead with a constitutional reform to bolster state utility CFE. The President warned that if the constitutional reform does not reach the qualified majority required to approve it, his opposition will have to assume the responsibility for the negative consequences, making it clear that “they are not popular representatives, even if they call themselves that."
Coppel Aims for 50 Percent Solar Energy Use
Coppel, one of Mexico’s major retailers landed a US$2 billion loan last week. Part of the company’s plans with this financing is to install solar panels on many of its stores. This renewable move highlights the potential that distributed generation (DG) solar installations have in Mexico, especially for commercial activity largely operating during daylight.
Rengen to Grow Renewable Energy Use Despite Challenges
Rengen Energy Solutions expects to grow around 4MW in renewable energy generation facilities for 2021, this represents an increase of 2.2 percent. The company currently developed 26 energy projects in the country.
US Explores Gulf of Mexico Wind Potential
Wind energy potential on the Gulf of Mexico will be examined as a serious option as part of the Biden administration’s grand renewable energy plans. Even though the Gulf is mostly known for its oil and gas development, experts have pointed out its excellent potential for offshore wind energy.
Renewable Energy Development Threatened by Bottlenecks
Bottlenecks could threaten the energy investment boom significantly. Supply-side problems including scarce metals and other materials, as well as land constraints could amount to a major challenge for renewable energy developers.