By David Buchanan
Accounting for 0.1 percent of total electricity generation, solar energy in Mexico is largely unexploited, making it the second-to-last source of energy after biogas.
But the spotlight may be about to shift, as the country is set to receive investments of up to $900 million in solar energy projects next year, according to Carlos Flores, director of Mexico’s national solar energy association, ANES.
By the end of 2015, Mexico will likely see a 100 MegaWatt growth in installed solar energy capacity compared with last year, bringing the total up to 260 MW, or 0.4 percent of electricity generation in the country.
The $900-million investment would bring Mexico’s installed solar capacity up to 600 MW, Flores said.
A bright forecast
The bright forecast by ANES is in line with the Energy Ministry’s four-year green energy plan, which includes boosting renewable production to reach 24.9 percent of the country’s total generation by 2018, up from 14.7 percent in 2012.
Mexico ranks third most attractive country in the world for solar energy investments, according to Francisco N. González Díaz, director of Mexican investment promotion agency ProMexico.
The country’s energy reform provides an attractive option for investors, since foreign companies can participate through licensing and production contracts, he said.
Due to its geography, daily solar irradiation in Mexico over the course of one year is 5.5 kWh/m2, and can sometimes surpass …
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