Canadian Companies Take Advantage of Renewable Energy Opportunities in Mexico

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Researched by Industrial Info Resources (Sugar Land, Texas)--Innergex Renewable Energy Incorporated (Longueuil, Quebec) and Manitoba Hydro International Limited (Winnipeg, Manitoba), a subsidiary of state-owned Manitoba Hydro, recently signed a memorandum of understanding (MoU) with Comision Federal de Electricidad (CFE) (Mexico City, Mexico) and Mexico's Ministry of Energy to study renewable energy opportunities in Mexico.

The purpose of the agreement is to coordinate efforts and development activities to allow Innergex and Mexico's state-owned electric utility, CFE, to define their joint participation in prospective renewable energy projects, with a particular interest in hydroelectric projects of less than 200 megawatts (MW).

Industrial Info is tracking 33 hydroelectric capital projects in Mexico valued at more than $6.1 billion, including 20 hydroelectric capital projects valued at $1.13 billion that are below 200 MW.

In the last couple of years, Mexico has lifted restrictions on the private ownership of hydropower generating stations of greater than 30 MW in capacity, which significantly increases the feasible potential of future hydropower development in the country. For more information, see August 4, 2015, article - Mexico's Energy Liberalization Has Rocky Start, but Experts Predict Fast Recovery.

Mexico Secretariat of Energy Pedro Joaquin Coldwell has stated he wants to increase the country's renewable power generation capacity to about 20 gigawatts (GW) by 2025, with 5 GW coming from hydroelectric sources.

The country started to solicit bids for renewable energy in October in the first auction of renewable clean energy certificates, with awards beginning in March 2016. As many as 6 million certificates will be awarded, with 20-year contracts for developers to provide up to 2,500 MW of generation.

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