Over $ 150 billion to be invested in electricity sector in Mexico

Mexico: In the next 15 years the country will receive investments of MXN 2 billion ($152 billion) in the electricity sector, which will increase by 106% the installed capacity to 66,000 additional MW, said Undersecretary of the Energy and Electricity Secretariat, César Hernández Ochoa.

The government plans to implement most of the energy upgrades over the next 16 months, which they detailed in a joint press conference with the Federal Electricity Commission (CFE), the Energy Regulation (CRE) and the presidency of the Republic, reports América Economía.

CFE plans to install 20,300 transformers in order to lower the theft of electricity. A total of MXN 29,700 million ($ 2,271 million) in losses were for non-technical losses or arising from power theft.

“As part of the comprehensive energy reform project is envisaged to increase installed generation plants using renewable energy capacity, which will allow generators to increase their profitability through the issuance of green certificates, which will be increased competition in market.” said the undersecretary.

Source: América Economía