Mexico’s First Clean Energy Auction Making it the Hottest Market


Mexico concluded its first Clean Energy Auction for energy, power and Clean Energy Certificates for purchase by CFE, Mexico’s only utility on March 29. This is the first of its kind since fully deregulating its electricity sector in 2013. The results were stunning with 11 PV projects being awarded contracts worth 4 million megawatt-hours (DC) per year. This translates to 1,860 megawatts of capacity (using an average capacity factor of 33.6%). Additionally, all 11 projects have won contracts for a combined 4 million Clean Energy Certificates (CELs). Of the 11 winners, 7 are PV companies. Solar was the undisputed star of the auction, which was also open to hydroelectric and geothermal providers. The wind and solar projects, and the accompanying Clean Energy Certificates, were sold at a weighted average price of $45.56 per megawatt-hour (MWh).

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