Power generation mix in Mexico, according to the Mexico Energy Outlook. Source: IEA (www.iea.org).
Between now and 2040 renewables will account for more than 50% of the new power capacity installed in Mexico, says the Mexico Energy Outlook by the International Energy Agency (IEA).
The report praises the energy reform (Reforma Energética) and its effect both on clean energy development and fossil fuel production. IEA’s projections confirm that Mexico will meet its 35% clean energy target by 2024.
The Mexico Energy Outlook says Mexico’s primary energy demand would grow to 224 million tonnes of oil equivalent (Mtoe) in 2040 from 188 Mtoe in 2014. The share in primary energy demand of separate energy sources is given in the table.
Mexico’s auctions for clean power are part of the energy reform. Last month it was announced that projects worth USD 4 billion (EUR 3.7bn) would get long-term contracts for power and/or clean energy certificates (CEL) after winning the second energy auction at competitive prices.