Mexico awards pact to secure renewable energy

WSJ – Mexico’s opening of its electricity market after decades of state control is driving fierce competition among suppliers of clean energy and pushing prices down, as renewable energies gain traction across Latin America.

Mexico’s government, following the launch this year of a wholesale electricity market under an independent system operator, this year held its first auctions in which companies made bids to sell renewable energy under long-term contracts to state-owned utility Comisión Federal de Electricidad, or CFE, starting in 2018.

On Wednesday, purchase contracts were awarded for 8.9 million megawatt hours a year of electricity from mostly solar and wind generating plants—equivalent to about 3% of Mexico’s current electricity use.

http://www.wsj.com/articles/mexico-awards-contracts-to-secure-renewable-energy-1475086767

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