Mexico Attracts $2.6 Billion in Investments in Power Sale Rerun

Bloomberg Business 3/30/2016

Energy -electricity_transmission_linesRenewable energy developers including Acciona SA and an Enel SpA unit are set to spend $2.6 billion on power plants in Mexico after winning bids in the country’s first-ever electricity auction.

Acciona, Enel Green Power, SunPower Systems and Recurrent Energy were among the 11 companies that won rights to generate and sell 2,085 megawatts of clean power to the state-owned Comision Federal de Electricidad, Mexico said Wednesday.

While the sale was the first since Mexico decided in 2013 to allow private companies to compete for power contracts, it was actually the second time the country ran the auction. The government was forced to hold the sale again after an initial one was botched by a flawed bid from Gestamp Wind. The previous auction had resulted in fewer megawatts contracted and less investments committed, according to results the government has since thrown out.

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