Mexico’s abundant sunshine makes it a prime target for renewable energy investments, and Spanish company Greening Group is leading the charge. With a strategic plan in place for 2024-2026, the company is poised to make significant strides in the country’s solar energy sector. Greening Group’s focus on North America, particularly Mexico and the US, is expected to drive 80% of its revenue by the end of the year.
Greening Group’s Ambitious Plans
The company is already making waves with seven ongoing distributed generation projects in Mexico. Completed installations include photovoltaic systems for Soriana Tapachula, City Club Tapachula, Soriana Campeche, and Soriana Comitán. One of its most notable projects is a 2045.28 kW solar installation for the TSM Estadio Santos Laguna, set to become one of Mexico’s largest solar installations for sports venues. The company is also working on a massive project to install photovoltaic systems across 19 states.
By harnessing solar energy, Greening Group aims to reduce reliance on traditional energy sources and provide a cleaner alternative. This approach is particularly relevant in Mexico, where droughts and maintenance issues have impacted the energy grid. Elon Musk’s prediction about Mexico’s energy challenges may be becoming a reality. To support its projects, Greening Group secured €32 million in funding from Santander CIB last year, backed by CESCE. This investment will also enable the integration of Battery Energy Storage Systems (BESS) to store excess energy.
Strengthening Mexico’s Energy Grid
Having a reliable energy backup is crucial today, and Greening Group is well-positioned to provide it. The company’s strategy not only drives its international expansion but also contributes to global sustainability goals. Mexico’s state-owned utility CFE is also making strides in renewable energy, offering free solar panel installations to eligible households. Greening Group’s collaboration with companies like Bachoco demonstrates the potential for powerful partnerships between sectors. With the right investments and training, Mexico’s renewable energy sector is poised for significant growth.