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October 3, 2019

Cubico’s renewable energy portfolio begins operations in Mexico

Cubico Sustainable Investments, a global investor in the renewable energy, has announced that its 600MW solar and wind portfolio has commenced operations in Mexico.

Cubico Sustainable Investments, a global investor in the renewable energy, has announced that its 600MW solar and wind portfolio has commenced operations in Mexico.

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Delve into the renewable energy prospects for Morocco

In its new low greenhouse gas (GHG) emission strategy to 2050, submitted to the United Nations (UN), the Ministry of Energy Transition and Sustainable Development (MEM) of Morocco suggested to raise the share of renewable capacity in the country’s total power installed capacity mix to 80%.   Morocco currently aims to increase the share of renewables in total power capacity to 52% by 2030. The new strategy plans to increase the share of renewable capacity to 70% by 2040 and 80% by 2050.  GlobalData’s expert analysis delves into the current state and potential growth of the renewable energy market in Morocco. We cover: 
  • The 2020 target compared to what was achieved 
  • The 2030 target and current progress 
  • Energy strategy to 2050 
  • Green hydrogen 
  • Predictions for the way forward  
Download the full report to align your strategies for success and get ahead of the competition.   
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The renewable energy portfolio includes the 250MW Mezquite windfarm that is located in Nuevo León in the northeast of Mexico and the 350MW Solem solar PV project in Aguascalientes, central Mexico.

The Aguascalientes solar facility is reported to be one of the largest in the Latin American region to reach commercial operations.

Cubico Mexico head Osvaldo Rancé said: “These projects are honouring all their obligations under the power purchase agreements (PPAs) awarded in Mexico’s second long-term electricity auction in September 2016.

“The bulk of the of the energy, clean energy certificates and capacity produced by these projects are sold at very competitive prices to the Mexican state-owned utility CFE Basic Supply, the entity responsible for energy supply to the low-income housing and agribusiness sectors.”

The energy generated by these two facilities is enough to power more than 200,000 homes in Mexico, while offsetting more than 800,000 metric tonnes of carbon emissions annually.

Additionally, Cubico owns two more wind projects in Mexico with a combined capacity of 400MW that are currently in the advanced stages of development. The company said that these projects are expected to reach ready-to-build status during the first half of 2020, and are set to begin commercial operations in 2021.

Cubico Americas head Ricardo Díaz said: “We are very proud of what we have achieved in Mexico so far, having positioned ourselves among the top renewable energy companies and built a strong local platform comprised of highly experienced multidisciplinary professionals.”

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Free Report
img

Delve into the renewable energy prospects for Morocco

In its new low greenhouse gas (GHG) emission strategy to 2050, submitted to the United Nations (UN), the Ministry of Energy Transition and Sustainable Development (MEM) of Morocco suggested to raise the share of renewable capacity in the country’s total power installed capacity mix to 80%.   Morocco currently aims to increase the share of renewables in total power capacity to 52% by 2030. The new strategy plans to increase the share of renewable capacity to 70% by 2040 and 80% by 2050.  GlobalData’s expert analysis delves into the current state and potential growth of the renewable energy market in Morocco. We cover: 
  • The 2020 target compared to what was achieved 
  • The 2030 target and current progress 
  • Energy strategy to 2050 
  • Green hydrogen 
  • Predictions for the way forward  
Download the full report to align your strategies for success and get ahead of the competition.   
by GlobalData
Enter your details here to receive your free Report.

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