Engie Secures 587 MW PV In Mexico

French Utility Awarded Three PV & One Wind Energy Project With Total Capacity of 688 MW In Mexico’s Third Long Term Electricity Auction
04:59 PM (Beijing Time) - 24. November 2017
n_bus_PV Projects_Engie Secures 587 MW PV In Mexico_ab 2017-11-24

French utility Engie won 687.8 MW renewable energy capacity out of the total 7.4 GW awarded in the recent third electricity auction in Mexico (Source: Engie)

Key Takeaways

  • Engie has announced it has won 687.8 MW of renewable energy capacity in the recently concluded Mexican electricity auction
  • Three PV projects it has won represent a capacity of 587 MW and one wind power project will have 100.8 MW
  • All these projects will be developed for an investment of $580 million, which means an average of $0.84/W
  • In all, Engie Mexico would have invested close to $800 million in renewable power generation wadding around 900 MW of capacity

French energy giant Engie has bagged four renewable energy projects in the recently conducted Long term Electricity Auction in Mexico. The National Center for Energy Control (CENACE) in Mexico awarded Engie 687.8 MW of capacity. Engie plans to invest $580 million or $0.84/W to build this capacity.

Out of this awarded capacity, three are solar PV projects and one 100.8 MW wind power project is to come up in the state of Tamaulipas. The Villa Ahumada solar power project will have 199 MW and come up in Chihuahua; a 134 MW Abril solar power project will be built in the state of Sonora and the 254 MW Calpulalpan PV project will be based in the state of Tlaxcala.

“By 2020, ENGIE Mexico will have invested close to $800 million in renewable power generation, with approximately 900 MW of capacity. Our ambition is strong, it is in line with the draw of ENGIE to be a leader of the energy revolution,” said Engie CEO Isabelle Kocher.

Mexico just confirmed the results of its third energy auction. A total of 15 new clean energy plants will be developed in the country with nine projects of solar PV alone. Average price arrived at the auction was $20.57 per MWh.

The Mexican authorities awarded 7,451 MW of new clean energy generation capacity in the auction. It will be developed for an investment of almost $9 billion dollars, which will help the country in its aim to achieve 35% renewable energy share in the total energy mix by 2024. A fourth long-term energy auction will be announced in the first half of 2018.

Anu Bhambhani

Anu Bhambhani is the Senior News Editor of TaiyangNews

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Anu Bhambhani