Will Mexico’s Record-Breaking Solar Prices Pencil Out?

02/08/2018 Greentech Media

Nellis_AFB_Solar_panelsTwo years after a major energy reform effort, Mexico’s auctions are bringing in the lowest solar prices in the world. But getting those projects financed and built will still be a challenge.

Below, we answer the most pressing questions about Mexico’s solar prospects.

GTM is headed to Mexico City next week to discuss how the country can ensure sustainable and healthy solar growth. Our Solar Summit Mexico will address the status of market reform, the economics of record-low bids, financing challenges for big and small projects, currency risk, and the future policy.

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Mexico’s Cemex eyes capital raise for new investment

02/08/2018 Reuters

CEMEX
Client: Cemex Location: Dominican Republic Operations Date: November 2007 Photo: Mark Green/mgp2.com

Mexican cement maker Cemex aims to raise capital for potential investments by issuing shares, it said on Thursday, adding that it does not anticipate making more divestments to reduce debt.

Cemex Chief Executive Fernando Gonzalez said in a conference call with analysts that the company would not use new capital to pay down debt.

The Monterrey-based company, which is fighting to regain its investment-grade credit rating, posted a fourth-quarter net loss of $105 million on Thursday.

In the fourth quarter it reduced its debt plus perpetual notes by $209 million to a level 13 percent lower than end-2016.

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Uber adds six cities to Mexico coverage, bringing total to 45

11/6/2017 Reuters

U.S. ride-hailing service Uber Technologies Inc said on Monday it was increasing its presence in Mexico to include six more cities in the country’s northwest, bringing its coverage to 45 cities overall.

From Monday, Uber was adding La Paz, capital of the state of Baja California Sur, as well as Guasave in Sinaloa state and the cities of Nogales, Guaymas, San Luis Colorado and Navojoa in the state of Sonora, the company said in a statement.

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Mexico Tech Industry Benefits From U.S. Anti-Immigration Stance

10/17/2017 Reuters

Amazon, Facebook and other U.S. tech companies are expanding operations south of the border as Mexico works to capitalize on the Trump administration’s anti-immigration stance.

Since the beginning of the year, Amazon.com Inc has opened a new engineering office in Mexico City, while Facebook Inc has partnered with local groups to develop technical talent in the region.

Oracle Corp plans to expand its offices in the Pacific coast state of Jalisco, local officials said, possibly bringing hundreds of jobs.

In Guadalajara, Jalisco’s capital, a new group devoted to recruiting startups expects to have 10 new companies in the region by year-end, with another 60 in the pipeline. And the landlord of choice for many startups, the shared-office juggernaut WeWork, said it has opened five locations and now serves 6,000 workers after debuting in Mexico City last September.

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Hunt for Life in Mexico Fuels Demand for Tech to See Past Rubble

10/3/2017 Bloomberg

At 6 a.m. on Thursday, Rafael Ortigosa stood atop the collapsed Alvaro Obregon office building in Mexico City and called a halt to his company’s search and rescue efforts.

It wasn’t the result Ortigosa, South America sales manager for Leader, a French maker of ultra-sensitive listening equipment and cameras, had hoped for. Although 28 people escaped the toppled seven-story building following a 7.1 magnitude quake on Sept. 19, by the time Ortigosa and his team arrived on the site more than a week later, no more survivors were being found. In all, 35 bodies were discovered at the site and at least eight more remained unaccounted for.

If he’d gotten there sooner, Ortigosa said, maybe a few more could have been saved. The first 72 hours after a natural disaster are crucial for bringing in rescue dogs and search equipment like the systems made by Leader, he said.

“That’s when you can still detect people alive,” he said. “After that, it is very difficult.”

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New Publication | Building on Early Success: Next Steps in U.S.-Mexico Educational Cooperation

By Angela Robertson and Duncan Wood

USA and MexicoLaunched in 2014, the U.S.-Mexico Bilateral Forum on Higher Education, Innovation, and Research (FOBESII) seeks to “expand opportunities for educational exchanges, scientific research partnerships, and cross-border innovation to help both countries develop a 21st century workforce for both our mutual economic prosperity and sustainable social development.” It aims to promote binational cooperation in higher education and research, especially regarding important areas for innovation in the United States and Mexico, by promoting programs for student mobility, academic exchange, research, and innovation in areas of common interest to contribute to the competitiveness of the region.

Cultural and educational exchanges help to create connections between the people and institutions of the United States and Mexico via exchange programs, scholarships, grants, and joint research.  Increasing educational exchanges and strengthening workforce development and innovation, particularly in STEM areas, will allow the United States and Mexico, and North America as a whole, to compete in global markets. Thus, FOBESII has the potential to build a more prosperous future for both the United States and Mexico.

Nonetheless, this short paper argues that, while FOBESII has done much to expand educational exchanges, increase joint research, and promote innovation, it has yet to achieve its stated goals and continues to face serious challenges. We argue that to overcome these challenges, future initiatives must focus on advancing private sector engagement, workforce development, and improving public communication and outreach. FOBESII continues to be a relevant and important initiative, but it is in urgent need of restructuring and redirection if it is to make a significant contribution to bilateral affairs and regional competitiveness.

Read the paper…

How Mexico City Became A Hotbed For Startups

11/30/16 Forbes

mexico_city_at_night_2005On the corner of corner of Moneda and Licenciado Primo Verdad streets in Mexico City sits the first printing press in the Americas, established in 1539. Not far from that historic site of innovation is the Zona Rosa, one of many neighborhoods in the city center known for its trendy restaurants and bars – and increasingly – a lively startup community.

That’s near where WeWork is located, a shared workspace that many young entrepreneurs call home. Based in the Bay Area with offices all over the world, the Mexico City outpost looked like any Silicon Valley shared workspace with its casually hip young crowd, micro-roasted coffee and micro-brewed beer on tap — and even a few dogs.

It also turned out to be the perfect locale for a recent innovation event hosted by SAP and Endeavor, where a panel of young startup leaders discussed how their companies are using technology to digitally disrupt everything in Mexico; from the mid-range furniture market to domestic cleaning services.

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