Mexico's energy reform opens sector to private investment, targets 32 GW by 2030
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Mexico has launched an energy reform that opens its power sector to private investment and prioritizes renewable expansion. The government aims to add more than 32 GW of new electrical generation capacity by 2030, with at least 70 percent from clean sources. The shift marks a break from the previous administration's nationalization policies.
Key Facts
- President Claudia Sheinbaum launched an energy reform that allows private companies to add up to 9.6 GW of renewable capacity by 2030.
- The government's strategic energy transition roadmap includes a $43.6 billion investment package and a target of 1.8 million bpd oil production.
- Mexico aims to increase the share of renewables in its electricity mix from 24 percent to 38 percent by 2030.
- Installed photovoltaic capacity is projected to more than triple to 37.8 GW by 2035, growing at a compound annual growth rate of roughly 10.7 percent.
Policy Shift
President Claudia Sheinbaum has reversed the energy nationalization policies of her predecessor, Andrés Manuel López Obrador. The new framework permits 46 percent of electricity generation to come from private investments, with the state-owned CFE operating the remainder. Sheinbaum stated during the roadmap launch that Mexico has sun and wind, not only oil, and that the most important objective between now and 2030 is moving toward greater participation of renewable energy sources.
Renewable Targets
The roadmap sets specific renewable energy targets, including increasing photovoltaic generation by 140 percent, geothermal by 90 percent, wind energy by 70 percent, and hydroelectric energy by 18 percent. Achieving these goals requires a significant acceleration in clean energy deployment compared with previous years, when foreign investment in renewables was highly restricted. During her electoral campaign, Sheinbaum said she planned to spend at least $13.6 billion on renewables.
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Mexico's energy reform opens sector to private investment, targets 32 GW by 2030
