President Shows Signs of Compromise in Constitutional ReformBy Cas Biekmann | Thu, 07/29/2021 - 16:04
In order to push through a constitutional energy reform, President López Obrador will likely need to compromise and is already showing signs of willingness. In other news, X-Elio and Energía Real obtained important financing, natural gas imports reach record highs, LONGi won a prestigious award and Mexico’s emissions are examined. Read the weekly roundup here!
López Obrador Looks to Compromise on Constitutional Reform
President López Obrador affirmed that his latest constitutional reform will grant CFE the capacity to produce and distribute 54 percent of the nation’s energy demand, while leaving the remaining 46 percent to the private sector. Willing to work with COFECE, López Obrador is showing signs of compromise and readiness to work with private companies.
X-Elio Closes Financing for Perote II Solar Project
Spanish solar energy developer X-Elio has obtained the financing required for its Mexico-based Perote II project. The 119MW photovoltaic solar power plant received an investment of US$44.1 million to ensure a successful construction, operation and management.
Iberdrola’s Commitment Remains Even as Investments Drops
Iberdrola, Mexico’s largest private power producer, has been betting less and less on renewable development in the country. The government’s policy shift bogged down its developments, at times with discourse directed toward the company. But despite the controversy, Iberdrola highlights it is a “socially responsible” company, investing its vast resources in medical supplies and solar energy for underprivileged communities.
Energía Real Announces Strategic Partnership with Riverstone Holdings
Energía Real, a Mexican player focusing on solar-based distributed generation for the C&I sector has landed a strategic investment with Riverstone Holdings, a renowned financial holdings group in the energy sector. Combining their know-how, Energía Real hopes to install up to 500MW of solar in the years to come.
Mexico’s Methane Leaks Cause Concern
Reuters has seen a soon-to-be-published report that shows that Mexico’s methane emissions stemming from oil and gas operations is alarming, as it is twice as high as that of the US, the world’s main oil and gas producer.
Mexico to Pick up Steam in CO2 Emission Reduction After Pandemic
Mexico will set more ambitious goals to reduce its greenhouse gas emissions by 2030 when it recovers economically from the pandemic, said Undersecretary for Multilateral Affairs and Human Rights of Mexico’s Ministry of Foreign Affairs, Martha Delgado. Mexico is still lagging somewhat behind on its climate goals at the moment.
Nexus Energía to Supply Ánfora Internacional with Renewable Energy
Qualified Supplier Nexus Energía México won a tender and as a result will sell renewable energy to Ánfora International, a company involved in the ceramic sector, according to Milenio.
CFE Wants to Suspend Projects that make SEN Vulnerable
CFE wants CRE to suspend projects that could make the National Electric System vulnerable. This comes two weeks after CFE found Acciona Energy partially responsible for the energy blackout in December of last year. The request one is a series of recommendations provided by a panel of experts which includes increased infrastructure investment.
LONGi Wins Intersolar 2021 Award with Hi-MO 5 Series Module
Leading solar technology company LONGi has seen its efforts recognized by winning the Intersolar Awards 2021 photovoltaic category with its Hi-MO 5 series. The company’s Hi-MO 5 module, aimed at large-scale solar installations, utilizes bifacial and PERC technology to maximum effect. The Intersolar Awards are given to companies that substantially improve the success of the photovoltaic industry awarding forward-thinking innovations and solutions.
US Gas Imports Hit New Monthly Record Level in June 2021
The US Energy Information Administration (EIA) reported that natural gas imports from the US went past 7Bcf/d on various days during June 2021. As a result of this trend, boosted by new pipeline capacity, imports hit a record high. Wood Mackenzie expects this trend to continue over the summer.