CleanTech ION_Photosimulation-Photo-Num-1860_Updated-Foundation

Published on April 27th, 2012 | by Guest Contributor

5

Wind: Mexico’s Renewable Energy of Choice

Facebook Twitter Email Linkedin Reddit Stumbleupon Tumblr Plusone


Some would associate Mexico with sun and beach, therefore fertile ground for a thriving solar energy sector. However, wind is Mexico’s most mature renewable energy sector.

Proof of this is the latest investment of $700 million in the Marena Renovables project in Mexico’s Isthmus de Tehuantepec in Oaxaca. According to a Macquarie Mexican Infrastructure Fund (MMIF) press release, the 396 MW wind energy project is under development since March 2012. The project is expected to reach completion by the end of the year.

The Marena Renovables wind farm is being financed by a syndicate of commercial banks, including Banorte, BBVA Bancomer, Crédit Agricole Corporate and Investment Bank, HSBC and Santander, as well as development banks that include the Inter-American Development Bank, Banco Nacional de Obras y Servicios Públicos (“Banobras”), and Nacional Financiera (“Nafinsa”).

“We are pleased to have completed the financing for this Project and look forward to starting construction,” said Jonathan Davis Arzac, Executive Chairman of MMIF. “This Project, which marks the first renewable energy investment in MMIF’s portfolio, is expected to be the largest single-stage wind farm in Latin America when complete.”

The wind farm’s location, the Isthmus of Tehuantepec, is regarded as having the best wind-resources in Mexico and as one of the world’s windiest regions.

“It is estimated that the area alone has the energy potential between 5,000 and 7,000 MW with a plant output of 45%, while the international average varies between 25% and 35%,” said Rafael Carmona, Principal Analyst at GreenMomentum and CEO of Impulso Verde 2.0, a market intelligence firm that specializes in Mexico’s renewable energy and cleantech sectors.

“Transmission capacity is still one of the main concerns for many wind developments, especially in the northwest region where exports to California represent a very attractive market.”

Companies like Coca-Cola, Heineken, and the convenience-store chain OXXO have already jumped on the bandwagon, announcing that their Mexican operations will use energy from Marena Renovables.

The wind farm is a joint project developed by Macquarie Mexican Infrastructure Fund, Mitsubishi Corporation and Dutch pension fund, PGGM.

Photo credit to: Macquarie Group

 

Veronica French is an American-Bolivian professional living in Mexico City. She is a freelance writer and web consultant, as well as a marketing and business analyst for GreenMomentum, Inc., a cleantech consulting firm and startup accelerator based in Mexico City and Silicon Valley. She enjoys researching and writing about Mexico’s growing sustainability movement and innovation in clean technology. Topics that also pique her interest are science, technology, religion, human rights and culture.

Follow Veronica on Twitter @veronicafrenchy 



Tags: , ,


About the Author



5 Responses to Wind: Mexico’s Renewable Energy of Choice

  1. M. Straub says:

    Hopefully these moves can inspire others to make similar decisions. It only makes sense, if you have one of the windiest places on earth, then take advantage of it and harness the energy.

    Mexico can also tap into it’s oceans for truly clean, renewable energy. Ocean Thermal Energy Conversion (OTEC) creates endless emission free power from the temperature difference in shallow and deep water. Just like the wind farms, OTEC harnesses the natural energy of the world. Not too far away, the Bahamas is pushing for multiple OTEC projects. Mexico can tap into OTEC as well, and show the rest of the Americas what a truly clean, renewable, and affordable energy future looks like.

    Lots more on how OTEC works, and it’s benefits at The On Project.
    http://www.theonproject.org/otec/?utm_source=ecopreneurist&utm_medium=web&utm_campaign=mscomment

  2. Pingback: Wind: Mexicos Renewable Energy of Choice – Ecopreneurist : doing-it-green.com: wind solar energy resellers

  3. Pingback: Emerging & Frontier Markets Headlines 2012.04.30 | | Diverging MarketsDiverging Markets

  4. Pingback: One Typical Wind farm Creates 1,100 Jobs and Generates Millions of Dollars

  5. Pingback: Titans of eco-friendly industry, 2013 edition

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

Back to Top ↑
  • Subscribe to EP!

  • Our Sponsors


  • Search the IM Network

  • The content produced by this site is for entertainment purposes only. Opinions and comments published on this site may not be sanctioned by, and do not necessarily represent the views of Sustainable Enterprises Media, Inc., its owners, sponsors, affiliates, or subsidiaries.