According to news reports, Acciona Energia is developing its fifth wind farm in Mexico, to be located in El Cortijo, Tamaulipas.(1) The 168 megawatt windfarm, a $221 million investment, is the result of the electric power auctions which stemmed from the recent energy reform.(2) In this respect, Acciona's representatives have declared that:
"The installation is expected to enter service in August 2018 and will generate the equivalent of the electricity consumption of around 350,000 Mexican homes, avoiding the emission of over 366,000 metric tons of CO2 to the atmosphere per year."(3)
According to the report, Acciona is also planning the construction of a photovoltaic complex in Sonora, which will be finished in 2018.(4)
These projects are a clear example of Mexico's commitment to achieving its clean energy goals. In this context, the Energy Transition Law includes clean energy targets of:
- 25% by 2018;
- 30% by 2021; and
- 35% by 2024.
These actions are also a result of the General Law on Climate Change 2012, which included a commitment to the generation of clean energy through a series of provisions concerning:
- environmental protection;
- sustainable development; and
- the preservation and restoration of ecological balance.
This law is one of the world's first climate change laws and the first to be introduced by a developing country. In this context, Mexico has great renewable potential due to its geographical location. This creates benefits and opportunities for potential investors and minimises the uncertainties that existed before the auctions.
As regards the clean energy certificates (CELs), the scheme aims to establish requirements for power generation projects to use a percentage of clean energy. This should encourage investors to participate in clean energy projects, as they can obtain CELs and trade with them on the energy market by way of:
- the process organised at least once a year by the National Centre for Energy Control; or
- bilateral contracts or long-term auctions.
For further information on this topic please contact Mauricio Lievana at Ibáñez Parkman y Asociados SC by telephone (+52 55 5250 5912) or email ([email protected]). The Ibáñez Parkman y Asociados SC website can be accessed at www.i-parkman.com.
(1) "Acciona Energia starts construction work on its fifth wind farm in Mexico" March 9 2017, Mexico Now.