Mexico’s Green Energy Push Is Finally Gaining Momentum
Now It May Help Break It Apart China represents Washington’s biggest test,… Felicity Bradstock is a writer and journalist based in Mexico City.
She writes for energy websites and covers several other industries, as well as writing… After a delayed start under the previous government, Mexico is now well on its way to undergoing a green transition.
President Claudia Sheinbaum has launched an energy reform that opens Mexico’s energy sector to greater private investment and focuses on expanding the country’s renewable energy sector.
Meanwhile, the approval of several solar and wind projects demonstrates the government’s commitment to the accelerated deployment of clean energy.
In February, Sheinbaum launchedMexico’s strategic energy transition roadmap, which includes achieving oil production of 1.8 million bpd and deploying a $43.6 billion investment package.
The government aims to add more than 32 GW of new electrical generation capacity by 2030, at least 70 per cent of which should come from renewable sources.
During the announcement, Sheinbaum stated, “Mexico not only has oil: it has sun and wind, clean energies that allow for fewer environmental impacts.
We are working on the energy transition: moving toward greater participation of renewable energy sources in the electricity we consume.
And that is the most important objective between now and 2030.” The roadmap includes renewable energy-specific targets, including increasing photovoltaic generation by 140 per cent, geothermal by 90 per cent, wind energy by 70 per cent, and hydroelectric energy – through the maintenance of existing plants – by 18 per cent.
The government aims to increase the share of renewable energy in the electricity mix from 24 per cent to 38 per cent by 2030.
Achieving these goals will require a significant acceleration in the deployment of clean energy sources, particularly compared with previous years, when foreign investment in renewables was highly restricted.
Between 2018 and 2024, former Mexican President Andrés Manuel López Obrador (AMLO)pushed for greater nationalisation, citing greedy international energy companies and sectoral corruption as reasons for the move.
| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | +0.34% |
| WTI Crude | $96.90/bbl | +0.21% |
| EN590 Diesel | $846/MT | +0.18% |
| Jet Fuel A-1 | $1090/MT | +0.55% |
| Mazut M100 | $450/MT | -0.15% |
| Bitumen 60/70 | $470/MT | +0.08% |
| Sulphur Gran 99.5% | $470/MT | -0.44% |
| Urea 46% Gran | $650/MT | +1.12% |
| NPK 16-16-16 | $460/MT | -0.28% |
| Nat Gas TTF | $15.42/MMBtu | +0.92% |
Comments
Post a Comment