Toward Solar Innovation: CFE Announces Floating Solar Plant

CFE has announced plans for the first floating solar power plant (FPV) in Latin America, intended to be in either Sinaloa or the northern region of Coahuila. The utility has secured a credit line of €150 million (US$161.2 million) from the French Development Agency (AFD), with a 15-year repayment period and a two-year grace period.

According to CFE  this project aims to lead in renewable energy generation, with a capacity exceeding 120MW. It is also expected to minimize environmental and social impact in the designated areas. Additionally, it seeks to diversify CFE's generation portfolio, mitigating the decline in hydroelectric generation during dry seasons, and facilitating water conservation throughout the day.

In terms of financial standing CFE states "The loan is associated with a technical cooperation grant of €800,000 to improve planning, evaluation, and integration processes of renewable power plants into the National Electric System. These tasks are planned to be carried out between the French company Réseau de Transport d'Électricité and CFE’s subsidiary CFE Transmisión, with the support of the Corporate Operations Directorate and the Directorate."

Technical cooperation considers assessing the management of transmission process activities to devise strategies for minimizing technical losses, analyzing and reviewing Flexible AC Transmission Systems (FACTS) models and systems, and energy storage in transmission networks; monitoring transmission lines using drones, and managing energy storage to power services in substations and relay feeding.

CFE and the French Development Agency have been involved in cooperation agreements for 13 years, resulting in the development of significant renewable energy and energy efficiency projects. One such example is the investment in the first stage of the Puerto Peñasco Photovoltaic Power Plant. Similarly, this new project aims to bolster CFE's electric power generation park through clean and renewable sources, accelerating Mexico's energy transition.

While both the FPV project and Puerto Peñasco, part of Plan Sonora, share the overarching goal of advancing Mexico's energy transition and promoting sustainability, they each have distinct focuses and strategies. Plan Sonora, for example, takes a multifaceted approach to energy and economic development in the region. It not only aims to bolster renewable energy sources but also focuses on the exploitation and development of the lithium supply chain. This strategic move recognizes the growing demand for lithium-ion batteries, essential for electric vehicles and energy storage systems. Plan Sonora includes the liquefaction of gas for exportation, tapping into Mexico's natural gas reserves to bolster its position in the global energy market. Additionally, the promotion of the construction of automotive plants for electric vehicles in Sonora aligns with broader efforts to stimulate the domestic electric vehicle industry and reduce reliance on traditional combustion engine vehicles. The FPV project, on the other hand, specifically aims to diversify CFE's generation portfolio while minimizing environmental and social impacts in the designated areas. Unlike Plan Sonora, which encompasses various energy and economic initiatives, the FPV project is singularly focused on leveraging solar energy to drive Mexico's energy transition forward.