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Mexico

Mexico

Envision Energy wins in Mexico auction

MEXICO: Chinese manufacturer Envision Energy is continuing its global expansion with a 90MW contract win in Mexico's first power auction.

Envision is developing projects in Mexico with local developer ViveEnergia
Envision is developing projects in Mexico with local developer ViveEnergia

Envision is developing the Energia Renovable de la Peninsula project with local partner ViveEnergia.

The project was awarded a 15-year power purchase contract with state-owned utility CFE in Mexico's recent power auctions, the country's first.

The auction received 468 offers from 103 bidders, Envision said, with a lot of the capacity on offer being taken up by solar projects.

The auction led to an average price of $47.78/MWh being agreed across all clean energy projects to receive contracts.

The Energia Renovable de la Peninsula project is part of the 600MW of projects Envision acquired a stake in in October.

Construction of the initial 70MW will begin later this year, with the full 90MW project expected online by 2018.

Overall, the partnership between Envision and ViveEnergia is targeting 1.5GW on wind projects to be completed by 2020.

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