Mexico Far From Reaching Clean Energy Goals

Despite PRODESEN’s predictions, it is unlikely that the previously established 35 percent clean energy goal set for 2024 will be reached. Experts say that building wind farms off the shore of Yucatan would end local electricity shortages and generate long-term environmental benefits. In other news, CFE Distribution presented favorable financial results and relevant advances in the energy sector in its Performance Report 2022. CFE, however, lost another arbitration case, this time against the Spanish company Duro Felguera, representing US$22 million in compensation expenses.

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Despite Promises, Mexico Will Not Reach 2024 Clean Energy Goals

An analysis by the Mexican Wind Energy Association (AMDEE) appears to confirm that Mexico will not be able to reach its 2024 clean energy target, an issue that other industry insiders already reported earlier on. The government, however, claims that the goal remains within reach.

Offshore Wind Power: Yucatan’s Hidden Potential

According to Santiago Casillas Arzac, Specialist, KPA Energy Solutions, building a wind power farm off the coast of Yucatan could cover 97 percent of the electricity demand in the peninsula, thereby solving the deep-rooted energy supply issues in the area.    

CFE Increased Revenue and Reduced Energy Losses in 2022

CFE Distribution presented its Performance Report January-August 2022, along with its 2022 Investment Programs and Projects Report. The state utility unveiled favorable financial results and described relevant advances in the energy strategies deployed throughout the country.

Mexico Loses Arbitration Case Against Duro Felguera

CFE lost an international arbitration case against the Spanish company Duro Felguera, following a breach of the construction contract for the combined cycle power plant Empalme II, located in Sonora. The state utility will have to pay US$22 million in compensation to the Spanish company, taxes already included. Back in 2015, the project represented an investment of US$396 million.

CFE to Pay US$85 Million to ATCO Over Arbitration Case

In 2021, CFE lost an international arbitration case against the Canadian company ATCO. According to Reuters, the state utility had to pay a compensation of around US$85 million. ATCO pursued arbitration after CFE canceled a contract the Canadian firm had signed with the previous administration to build a natural gas pipeline near the city of Tula, Hidalgo.