Companies will invest 5,000 million Dollars in solar power generation in Mexico

Companies will invest 5,000 million Dollars in solar power generation in Mexico

15/07/2016 source “America Economia”

Several construction companies and operators of photovoltaic solar power plant will invest 5,000 million Dollars in the country over the next five years, a measure to expand the generation capacity of up to 4,000 megawatts. The information was released by Héctor Olea, president of the Mexican Photovoltaic Solar Energy Association (Asolmex), which brings together operators, inverters and developers of solar farms.

During the presentation of the “Solar Initiative” for the next  five year period, Olea detailed that are currently being developed projects totaling 286 megawatts of capacity and that new projects will involve the creation of 9,500 direct jobs and about 20,000 indirect jobs. The other plants that won the first electric competition carried by the federal government last March will generate 1,500 megawatts over the coming months, he added.

The approximately 2,200 remaining megawatts will be installed during the following years through tenders and other mechanisms, in order to, in 2021, reach the goal of 4,000 megawatts, said the president of Asolmex.

According to data presented by the Secretariat of Energy, in March this year were operating nine solar power plants in the states of Baja California (northwest), Aguascalientes (Midwest), Sinaloa (west) and Durango (north).

The federal dependency estimates that, as part of the opening of the electricity sector derived from the reform, solar energy generation plants will multiply to at least 63 in 2029. More than 85% of Mexico’s territory is conducive to the operation of solar power plants, which increased competitiveness, since that the cost of the technology used has been reduced to up to 70% in recent years.