EQS-News
SOWITEC and Cubico Sustainable Investments sign contract for the development of renewable energy projects in Mexico with a capacity of 800 MW
- SOWITEC and Cubico sign contract for renewable energy projects in Mexico with 800 MW capacity
- Projects include three advanced projects, one hybrid project, and two solar projects
- Private sector expected to actively participate in renewable energy development in Mexico after upcoming presidential elections in 2024
EQS-News: SoWiTec group GmbH / Key word(s): Contract
SOWITEC and Cubico Sustainable Investments sign contract for the development of renewable energy projects in Mexico with a capacity of 800 MW |
Osvaldo Rance, Country Head for Mexico at Cubico Sustainable Investments, commented: “We are delighted to announce the completion of this transaction which reinforce our commitment to delivering projects that will contribute to both reducing greenhouse gas emissions and driving Mexico’s future economic growth. We are confident that these projects will play a vital role in meeting the growing demand for clean energy in the region. Looking ahead, we will be seeking both public and private off takers.”
Since 2018, the expansion of the Mexican electricity market and renewable energies has slowed down significantly under the current government. As a result, private companies have faced and continue to face significant obstacles, including delays in approval processes, transmission restrictions, policy changes and reduced profitability. However, there are very clear indicators that the private sector will once again actively participate in the development of renewable energy after the upcoming presidential elections in 2024 at the latest. Numerous major investors are already building a robust pipeline of wind and solar projects to strategically prepare for this resurgence.