Investment in wind generation of electricity has propelled Mexico on to the list of the 10 countries that recorded the greatest spending on renewable sources of energy.


That spending in Mexico in 2015 totaled US $4 billion, representing a growth of 105% over the previous year, revealed the United Nations Environment Program's (UNEP's) annual report, Global Trends in Renewable Energy Investment 2016, presented Thursday.

 

The creation of nine wind farm projects was a major contributor to the increase in wind power investment, which shows no signs of slowing.

 

The construction of another new wind farm has just started in the northern border state of Tamaulipas, where the 45-turbine Tres Mesas park will be one of the biggest in the country. It will generate enough power to serve the needs of 71,000 households.

 

The state has a high investment potential due to its stable, year-round winds, an asset the state government is eager to exploit.

 

Mexico was also one of the three emerging economies with the highest yearly growth in renewable energy investment, only behind Chile and South Africa, where growth was 329% and 151%, respectively.

 

Future growth will be encouraged by goals approved in December by Congress. The Energy Transition Law established among other things that 35% of electrical energy must be generated from clean sources by 2024, a percentage that is supposed to reach 60% by 2050.


The International Renewable Energy Agency, Irena, agrees that Mexico has enough potential, estimating that by 2030 the country could well be capable of generating 46% of its electricity needs through sustainable sources.

 

Irena estimated that Mexico is capable of generating 26% of its electricity through wind and solar farms, 12% through hydroelectric generators, 5% by harnessing geothermal energy and 2.5% though biomass.

 

All this could mean that by 2030 Mexico could reduce its demand for coal by 62%, natural gas by 21% and oil by 6%.

 

Another detail of the UNEP report showed that for the first time investment in renewables by emerging economies surpassed that of developed countries. The former saw investments of $156 billion, while the latter registered $130 billion.