News: Mexico’s Newly Opened Energy Market Attracts Renewables

According to an article by renewable energy world.com, Mexico has set a goal to generate 35 percent of its energy from renewable sources by 2024. The government also expects enormous increases in solar and wind power capacity for 2018.

Meanwhile, many energy laws being reviewed by Mexico’s congress are expected to pass by June 2014. These new laws are expected to make private companies able to build and operate power easily through opening up the electricity market, which is currently monopolized by state utility company CFE (Comisión Federal de Electricidad). Under a self-supply law, businesses can buy electricity directly from power plants, which generate energy from renewable energy, such as solar and wind energy.

The Mexican government considers energy reform as a measure that can attract more investment. This will bridge predicted spending deficit and reinforce Mexico’s leadership in renewable energy policies.

Source: Renewable Energy World.com

 

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