Mexico Plans to Add 6 GW to Power Generation Capacity in 2026
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Article content(Bloomberg) — Mexico’s state power company and private partners plan to add 6 gigawatts (GW) of new electricity generation capacity next year, the latest announcement in President Claudia Sheinbaum’s plan to grow the nation’s energy supplies.Sign In or Create an AccountEmail AddressContinueor View more offersArticle contentThe plans keep government-owned power company Comisión Federal de Electricidad, or CFE, firmly in the drivers seat of the electricity sector, as Sheinbaum looks to add to a national generating capacity that currently stands at around 90 GW.Article contentWe apologize, but this video has failed to load.Try refreshing your browser, ortap here to see other videos from our team.Article contentArticle contentThe government has already approved permits for more than 3.3 GW of new capacity, representing $4.7 billion in new private investment, Energy Minister Luz Elena González told reporters on Wednesday at Sheinbaum’s regular morning press briefing. The minister added that the government will begin a fresh round of permitting approvals for new projects in January.Article contentTop StoriesGet the latest headlines, breaking news and columns.There was an error, please provide a valid email address.Sign UpBy signing up you consent to receive the above newsletter from Postmedia Network Inc.Thanks for signing up!A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againInterested in more newsletters? Browse here.Article contentWhile most of Mexico’s power supplies come from burning fossil fuels, especially natural gas, the newly-approved projects aim to add more green power to Mexico’s energy mix, including 15 photovoltaic solar plants and five wind farms. The CFE is also planning to fund four combined cycle plants next year that should add 1.5 GW.Article contentGeneral Electric will provide turbines for new power plants, Sheinbaum noted.Article contentThe president, who once worked as a climate scientist before entering politics, has often said she favors more renewable energy despite her party’s efforts to prioritize fossil fuels. Article contentHer government is also in the process of tendering new transmission projects.Article contentThe announcements come just days after a draft regulation from the energy ministry generated criticisms from independent power producers over concerns the new rules will further centralize power contracts and force them to sell electricity to the CFE.Article contentSheinbaum has promised to spend $23.4 billion on new electricity infrastructure in a bid to prop up the national grid, which has for years been beset by seasonal blackouts. State-centric rules established by her predecessor Andrés Manuel López Obrador limit private company ownership to 46% of Mexico’s total power generation capacity, with CFE controlling the rest.Article content—With assistance from Alex Vasquez.Article contentTrending 'Why let one person in the States change your life?' For Canadian snowbirds, the stay or go dilemma gets complicated Real Estate Canada's population declines for the first time since the pandemic News Is a $2.75 million portfolio enough for Halifax empty nesters to retire early?
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Personal Finance World watches as Ottawa's bullish shift on LNG puts wind at the back of two major projects Oil & Gas Expect 'dramatically higher' oil prices in 2026, says Eric Nuttall Oil & Gas