Mexico 2014 Renewable Investment May Exceed $2.4 Billion

Renewable-energy investment in Mexico is on pace this year to exceed the nation’s 2010 record of $2.4 billion, according to Bloomberg New Energy Finance.

Investment in the first half of 2014 was about $1.3 billion, compared with $1.6 billion for all of last year, the London-based research firm said today in an e-mailed statement. Spending on wind and solar projects is expected to see a “significant” increase over the next two years.

Mexico and the nations of Central America are estimated to install about 1 gigawatt of wind capacity this year, topping a record 757 megawatts in 2012. That figure may leap to 1.3 gigawatts in both 2015 and in 2016. Solar installations will be about 193 megawatts this year, and are expected to increase to 355 megawatts next year and 456 megawatts in 2016.

“These countries have unusually good wind, solar, geothermal and hydro-electric power resources,” Yayoi Sekine, a New Energy Finance analyst, said in the statement. “Using these to meet much of the additional electricity demand in coming years, and replacing that costly oil and diesel power, makes sense.”

Clean-energy investment in Central America in the first half was about $317 million, trailing the pace of last year’s total of $1 billion, BNEF said.

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