Mexico's Geothermal Power Surges with New Projects and EU Collaboration
Mexico's geothermal energy sector has seen significant developments, with the Mexican Congress approving an energy reform in 2013 to open up power generation to private companies. The country is now the fourth largest geothermal energy producer, with an installed capacity of 926 MW.
The Geothermal Energy Law, passed in 2014, allows private companies to explore and exploit new geothermal areas. This, coupled with the launch of the Mexican Center for Innovation in Geothermal Energy (CEMIE-Geo) in the same year, has promoted geothermal energy development.
Mexico's geothermal potential is vast, accounting for around 15% of the world's total capacity. The country's geothermal power capacity is expected to increase due to new projects and a favourable regulatory framework. In the first long-term auction, no geothermal projects were selected, but the second auction awarded 25 MW-year capacity to CFE's geothermal plant, demonstrating progress in the sector.
The Wholesale Electricity Market, launched in 2016, hosts both short-term and long-term contracts. Additionally, Mexico and the European Union launched a joint EUR-20-million geothermal research project in the same year, further boosting the sector's development.
Mexico's geothermal energy sector has shown significant growth and potential. With a supportive regulatory environment and international collaboration, the country's geothermal power capacity is expected to increase, contributing to its renewable energy mix.
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