Mexico plans to add 27GW in power capacity by 2030

Mexico will add 27GW of power generation capacity from 2025 to 2030, President Claudia Sheinbaum said Sunday.

Speaking at an event in Mexico City to mark 100 days in office, Sheinbaum said that state-owned power company CFE will have a share of at least 54% of the country's generation capacity, with the remainder available for the private sector.

"We will bring order and transparency to private investment," Sheinbaum said.

The planned increase in generation capacity is higher than the level specified in the government's strategy for the electricity sector that Sheinbaum unveiled on November 6.

That document commits CFE to adding 13GW of generation capacity by 2030, with the private sector installing up to 9.6GW of renewable power. 

The government has put a US$23.4bn investment drive by CFE at the center of its plan for modernizing Mexico's creaking power infrastructure and reducing carbon emissions.

Renewables

Sheinbaum, a former climate scientist, said Sunday that the 27GW of new capacity would include "a large percentage of renewable energy."

She did not repeat the pledge that she made at her inauguration of increasing renewable energy capacity to 45% of the generation market.

Including hydroelectricity, renewable energy plants account for 32% of Mexico's generation capacity, according to energy ministry data for 2023.

Wind farms and solar photovoltaic installations represent 16% of the total.

Pemex

Sheinbaum reiterated Sunday her goal of stabilizing the output of federal oil company Pemex at 1.8Mb/d (million barrels per day). 

Analysts have said that target will be hard to achieve, as production from the debt laden company fell below 1.7Mb/d in November.

Pemex will also invest in new petrochemical and fertilizer projects, Sheinbaum said.