A new petrochemical megaproject in…
The OPEC Algiers meeting is…
Mexico produces a large volume of greenhouse gases, and suffers from severe air pollution in its large cities, some of which, such as Mexico City, have the worst air particle pollution in North America.
In an effort to reduce the countries carbon emissions Mexico is looking to invest more to develop its renewable energy sector. At the beginning of 2012 President Calderón signed the Mexican Global Climate Change Program. The progam pledged $70 million over five years as part of an agreement to cooperate with the US on stimulating the green economy.
Brian Gardner, an energy analyst for the Economist Intelligence Unit, was encouraging about Mexico’s renewable energy chances, saying that “with strong wind through the south, consistent sunlight in the north and a stable market, Mexico is well positioned for continued renewables growth.”
Wind Power in the state of Oaxaca offers great renewable energy potential. Back in 2005 Mexico boasted a wind power capacity of just three megawatts, but that number is predicted to reach 2,000 megawatts by the end of 2012, and then again the sector is predicted to triple by 2020. The increase from three megawatts in 2005 to 6,000 megwatts in 2020 will make Mexico the fastest growing wind power nation in the world.
One of the wind projects which will contribute to this rapid growth is a $600 million project that is soon to be finished and will consist of 204 turbines, with a capacity of 306 megawatts; it is expected to power 700,000 homes.
By. Joao Peixe of Oilprice.com
Joao is a writer for Oilprice.com