The plan will fund the development of four combined-cycle and seven hydroelectric plants across Mexico, which will help the country reach 99.99 percent electricity coverage nationwide
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While the Sheinbaum government is set to largely expand its investments into clean energy, it also noted Mexico would continue relying fossil fuels to maintain the reliability of the national energy system
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Later that day, Secretary of the Economy Marcelo Ebrard revealed that businessmen involved in the CEO Dialogue with Sheinbaym confirmed investments in Mexico surpassing $20 billion
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The new appointees join the 17 individuals Sheinbaum has already named to her presidential cabinet
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The federal executive’s statements come following a series of blackouts across several Mexican states due to the country’s ongoing heatwave.
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However, the CFE’s funding proposal for its 2024 investment plans far eclipses the budget allocated for the state-owned company by the 2024 Expenditure Budget of the Federation
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Nearshoring picked up steam when the covid-19 pandemic exposed the considerable risks inherent in the supply chains for numerous critically important products and intermediate goods for which there was often a single supplier
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Mexico’s highest court said the reform’s prioritization of the Federal Electricity Commission violates the right to free market competition and the country’s transition toward renewable energies
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Despite directly choosing its constructors, only one of the CFE’s six priority plants has been fully built while the rest remain between 61 and 73 percent complete
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The average duration of blackouts has reportedly increased more than sixfold since López Obrador assumed office in 2018
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