How to build a more renewable Mexico in 2024 | Society

In addition to the prevailing commitment to global decarbonization, Mexico’s high energy potential in the renewable field would translate into a high level of employability, greater industrial competition, as well as more robust electrical safety and efficiency, among many other associated benefits.

85% of the Mexican territory is located in the so-called sun belt, between the Tropic of Capricorn and the Tropic of Cancer, which translates into 5 kilowatts (KWH) per square meter per day. This means guaranteed solar radiation, as well as areas that have intense and constant winds. Both are favorable conditions for implementing clean and renewable energy solutions.

This panorama is met with a high demand for energy, which grows at an estimated rate of 3% annually. Added to this need for more electricity are global decarbonization and social responsibility goals.

According to the Renewable Energy Prospects 2018-2032 study, the Mexican Ministry of Energy proposes a scenario of renewable installable capacity of up to 32,307 GW – of which 31,144 GW would be solar cut – and a generation potential of up to 67,891,324 GHW /to.

A solid portfolio of renewable projects

In this context, one of the key figures to advance towards Mexico’s energy transition are renewable projects and how these are formed through a solid portfolio, based on their viability and effectiveness. A project portfolio is a grouping of business opportunities that can be developed in the short or medium term, explains Alfonso Campos, director of the Renewable Development team at Iberdrola México.

The manager details that Iberdrola México currently has more than 35 projects in its portfolio, which total a capacity of 9,000 megawatts (MW) and are distributed in 14 states of the country.

Mexico Iberdrola
Iberdrola Mexico

The possibility of a cleaner and more energy-efficient Mexico not only represents a safer and more harmonious future for its inhabitants, but also the path to a much more dynamic and strengthened economy in the face of the challenges of the contemporary world. This can be reflected in aspects such as the creation of new jobs which, according to recent figures from America Clean Power (ACP), reached 30,000 positions in countries like the United States and 13.7 million in 2022 worldwide, almost double compared to the previous year.

This coincides with the vision of Enrique Alba, CEO of Iberdrola México: “In Mexico we want to play a leading role in the energy transition and we want to take advantage of the country’s excellent solar and wind resources to produce clean, cheap and reliable energy. Energy that at the same time generates a local industrial fabric and high-quality employment that allows us to achieve energy independence, because currently the country depends on fossil fuels, such as North American gas, to produce electricity,” said the manager during the last edition of the Digital Summit of the energy company.

The CEO of Iberdrola México also stressed that trends such as nearshoring They present a unique opportunity, which occurs once in a century: “Mexico has to take advantage of it to take off as a leading country worldwide. We are all aware that more clean energy is needed to take full advantage of the nearshoring”.

“And that is where Iberdrola México wants to participate, help, support, and wants, as always, to demonstrate its commitment to the country. We have the technological capabilities, the global experience and the local team to be an important agent in bringing more clean energy to the country to be able to take advantage of the nearshoring“, he claimed.

Currently, Mexico has among its main commitments at a global level to ensure that this year 35% of electricity generation comes from clean technologies.

Mexico Iberdrola
Iberdrola Mexico

For his part, Alfonso Campos points out that to participate in Mexico’s energy transition, the company designed a new methodology that allows progress in a much more accelerated and accurate way in the creation of business opportunities, based on three major stages of development. : prospecting, origination and portfolio.

“We work locally from the early phases to analyze the social or environmental impact that the project could have because, beyond their main business, they have to add value to the community in which they are integrated,” Campos points out.

After a 2023 full of important and profound changes by the company, Enrique Alba draws an encouraging outlook for 2024 for the benefit of the entire society and, above all, the environment: “Our objective is to reinvest the money obtained from the sale of the plants in new renewable plants. This is the main objective of our portfolio and of the company’s new investment cycle.”

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