Data from BloombergNEF implies that billions worth of energy projects could be at risk if President López Obrador’s energy proposal were to pass. In other news, a natural gas storage project’s development is looking feasible, MPC Energy Solutions buys a Mexican solar plant and Iberdrola has opened operations for a new power plant. Read this and more in the roundup!
The president’s proposal to reform the energy sector could disrupt over US$22 billion of clean energy contracts at risk by derailing private power projects, mainly powered by solar and wind, according to BloombergNEF.
Eduardo Prud’homme, Co Partner at Consultant Gadex, said that a 6bcf/d natural gas project based in a Veracruz salt cavern is advancing steadily based on government talks with a developer. The amount of storage is approximately as much as a day of pipeline US supply and would cost between US$$318-481 million.
The Dutch company has established itself in Mexico by acquiring the 15.8MW Santos Solar I power plant, located in Chihuahua, from Buenavista Renewables. The deal includes a right of first refusal regarding a possible extension to 90MW.
Germany is willing to bet big on the development of green hydrogen and sees Mexico as a strategic partner in the development of the renewable fuel.
Iberdrola and Louis Dreyfus Company (LDC) announced the opening of a new photovoltaic solar plant in Perote, Veracruz.
Mexico’s President once again touted hydroelectric power production as the basis on which the country will reach its clean energy goals, but experts doubt whether hydroelectric energy can stretch as far as the government expects.
Mexico’s Minister of Foreign Affairs, Marcelo Ebrard, and his Canadian counterpart Mélanie Joly, spoke this week about energy and other topics during a meeting in Mexico City, which took place before a USMCA-focused summit.
The solar-focused company has two independent female board members, representing 17 percent of the entire board. MBN’s Expert Contributor María José Treviño is among them, as is Alba Medina Flores.
The UK investment company launched a placing to raise capital in order to develop its pipeline of assets, which include wind farms in Mexico, hydro projects in Brazil and solar in Vietnam, as well a cogeneration project in the UK.