Mexico to see US$8.5bn in renewable energy investments - ProMéxico

Tuesday, September 30, 2014

Mexico will have 80 renewable energy projects with US$8.5bn in investments over the next two years, according to investment and trade promotion agency ProMéxico.

ProMéxico director Francisco González was quoted by El Financiero newspaper as saying that 80% of the projects will be wind power, 15% solar power and the remaining 5% biomass or hydroelectric.

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"The majority of the projects were negotiated before the reform, but with companies expecting that there would be an energy reform," González said in a press conference.

The firms investing in the projects are from China, Denmark, Spain and the US, and the Mexican regions with a good chance of hosting them are Aguascalientes, Chihuahua, Sonora and Tamaulipas states, and the southeastern region.

Annual investment in the renewables sector is expected to increase to US$5bn in 2016 from US$2bn currently.