Mexican Green Energy Investment Drying Up, Trade Groups Warn
- AMDEE, ASOLMEX say $10 billion new wind, solar spending needed
- AMLO’s proposed power reform is scaring away money: Delgado
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President Andres Manuel Lopez Obrador’s proposal to give control of Mexico’s electricity market to the state utility has scared away would-be green-energy investors at a rapid pace, the country’s wind and solar associations warn.
In addition to the $20 billion already invested in the country’s wind and solar sector, a further $10 billion will be required by 2024 to meet the country’s clean energy goals, according to Nelson Delgado, representative for the Mexican associations of wind and solar energy, known as AMDEE and ASOLMEX. But the pace of investment from international renewable-energy companies has slowed sharply while the power reform bill is debated in congress, putting Mexico behind in its push to transition away from dirtier fuels.