VC provides technical advice to more than 50% of the renewable power awarded in the third long-term auction in Mexico
On November 22th, CENACE (National Center for Energy Control) and SENER (Secretariat of Energy) published the names of the winners in the third electricity tender for the contracting of energy from renewable sources in Mexico.
The objective is to allocate ‘Power Coverage Contracts’ for a 15 years period for Power and Electric Power, and 20 years period for Clean Energy Certificates.
A total of 2.73 GW of PPAs, 2.18 GW from solar and wind energy, have been awarded to an average price of 20.57 dollars per MWh, one of the lowest internationally reached. Thus, 16 projects from 9 different companies have been selected in a very crowded auction where 46 bidders initially submitted economic offers.
The clean energy acquired in this auction is equivalent to approximately 1.78% of the annual generation of electricity in Mexico; a significant contribution to achieve the goal of generating 35% of electric power in Mexico from clean sources by 2024.
Vector Cuatro has actively participated in the three renewable energy auctions held to date in Mexico, accumulating 2.8 GW of power awarded to its clients, providing both technical and financial services. In addition to technical advice, Vector Cuatro has 36 MW of solar photovoltaic technology under management in Mexico (Asset Management).
Vector Cuatro opened its Mexico office in 2013. From there, provides Engineering / Consulting, Financial and Asset Management services and controls its projects in Guatemala, Dominican Republic, Ecuador, Peru, Honduras, El Salvador and the rest of the region.