Mexico is beefing up its energy game with a massive $22 billion investment. The plan is to expand the national grid and add 22,674 megawatts of power. This will include a mix of wind, solar, and natural gas energy, as well as battery storage and hydroelectric power.
The government’s goal is to make Mexico a leader in sustainable energy. They’re working with private companies to make it happen. One project will add 1,673 megawatts of solar power in Sonora. Another will boost the energy transmission system in Querétaro to meet industrial demand and bring power to remote areas.
Here’s what the plan includes:
- 22,674 megawatts from the state-owned power company
- 6,400 megawatts from private companies
- Electrifying 500,000 homes that don’t have power
- 7 wind energy projects
- 9 solar panel installations
- 5 natural gas plants
- 1 combustion plant
Mexico wants to generate reliable, affordable, and sustainable energy. The plan will help cover 99% of the country’s energy needs and bring power to half a million homes without electricity. The government is also working to improve telecom infrastructure and increase internet coverage.
The investment will be divided among new energy projects, transmission infrastructure, and distribution projects. Private companies can participate in the market through long-term contracts or by teaming up with the state-owned power company.
By the end of 2023, Mexico’s total installed capacity reached 90.6 gigawatts. This plan will help drive growth and development in the country’s energy system. It’s needed, too – a recent study revealed that Mexico faces a big challenge in meeting its energy needs.
Between 2015 and 2020, coal generation in Mexico dropped by 60%. Wind and solar energy filled the gap, with a small increase in gas generation. With this massive investment in sustainable energy, Mexico is making a big push towards a energy transition.