Mexico’s Sheinbaum Plans to Spend Billions on Gas, Solar Plants

-- Mexico ’s leading presidential candidate would spend around $13.6 billion to boost her country’s use of renewable energy while still adding gas-burning power plants , according to a plan she presented to business leaders.S&P 500 Breaks Below 5,100 as Big Tech Sells Off: Markets WrapThe plan from frontrunner Claudia Sheinbaum would increase wind and solar power generation, modernize hydroelectric stations and add about 3,850 kilometers of transmission lines.

“We are going to accelerate the energy transition,” Sheinbaum said Monday. “Going forward, we are working on this energy plan not just with an eye on 2030, but also through 2050 to align with international commitments on climate change.” Her proposal would be in addition to gas and solar plants that are already planned or under construction, expected to add about 3.3 gigawatts of capacity to the grid this year.

If she wins the election, Sheinbaum will inherit the largest budget deficit in Mexico since the 1980s, which may complicate plans to speed up Mexico’s clean-energy transition.“We have the possibility and potential to develop Mexico in a way that generates investment with well-being,” Sheinbaum said at the event. “At the same time, that development does not have to negatively impact the environment.

European governments due to move to support their solar power manufacturers this week will be too late to stop solar panel maker Meyer Burger packing up a German factory to send production to the United States. The plant in Freiberg in eastern Germany closed in mid-March with the loss of 500 jobs, as the Swiss-listed firm joined a growing list of European renewable energy manufacturing factories shutting down or moving.

Source: Energy Industry News (energyindustrynews.net)

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