Mexico's CFE Set to Approve 60 Renewable Projects Worth $12.5 Billion

Mexico's Federal Electricity Commission is set to approve as many as 60 alternative energy projects, mostly solar, adding up to 8.2 GW of new generation capacity, according to Bloomberg, citing unnamed sources. Total investment could reach $12.5 billion. The approvals advance President Claudia Scheinbaum's target of roughly 32 GW in new capacity by 2030, though the renewable share of that total has fallen to about 30% from an earlier 70%, Bloomberg reported. The energy ministry has reported 42 solar projects totaling 6.86 GW and 13 wind projects exceeding 4 GW in the pipeline, with CFE participating in about 70% of it. Under reforms giving private generators access to 46% of national electricity output, Energy Minister Luz Elena Gonzalez said private companies are prepared to invest $4.75 billion in 3.32 GW of alternative capacity across 20 projects. Scheinbaum is also targeting oil output of 1.8 million barrels daily by 2030, alongside a 140% increase in solar capacity.