Mexico’s state power utility, the Comision Federal de Electricidad, was scheduled to vote on October 20 on preliminary approval for more than 60 renewable energy projects that would add about 8.2 gigawatts of generation capacity at an estimated cost of 12.5 billion dollars, according to a person with knowledge of the matter cited by Bloomberg. The projects are mostly wind and solar farms, and 8.2 gigawatts is roughly the output of eight nuclear reactors.
The capacity is the point. Mexico’s grid has suffered seasonal blackouts, notably on the Yucatan Peninsula, after years of underinvestment, and the government targets 32 gigawatts of additional power capacity by 2030. Its stated growth ambitions include a 140 percent increase in solar capacity, 90 percent growth in geothermal and 70 percent growth in wind over the next four years, alongside an increase in oil production to 1.8 million barrels a day by 2030.
The structure marks a shift. President Claudia Sheinbaum’s government is preparing to let private developers build generation at a scale the previous administration resisted, while the state utility keeps the approval gate. A CFE spokesperson said the utility is still working with companies to finalise terms and that it is premature to say how many projects will ultimately be approved, and a second person cited in the reporting said the final approved number could be smaller.
Readers should treat the headline carefully. The 12.5 billion dollars is the estimated cost of the full slate before transmission expenses, not money raised or contracts signed, and no confirmed vote outcome was available when this edition closed. The development to watch is the approved project list and its terms, which will show how much private capital Mexico is actually admitting, and on what conditions.