• 12 hours Shell Oil Trading Head Steps Down After 29 Years
  • 16 hours Higher Oil Prices Reduce North American Oil Bankruptcies
  • 18 hours Statoil To Boost Exploration Drilling Offshore Norway In 2018
  • 19 hours $1.6 Billion Canadian-US Hydropower Project Approved
  • 21 hours Venezuela Officially In Default
  • 23 hours Iran Prepares To Export LNG To Boost Trade Relations
  • 1 day Keystone Pipeline Leaks 5,000 Barrels Into Farmland
  • 1 day Saudi Oil Minister: Markets Will Not Rebalance By March
  • 1 day Obscure Dutch Firm Wins Venezuelan Oil Block As Debt Tensions Mount
  • 2 days Rosneft Announces Completion Of World’s Longest Well
  • 2 days Ecuador Won’t Ask Exemption From OPEC Oil Production Cuts
  • 2 days Norway’s $1 Trillion Wealth Fund Proposes To Ditch Oil Stocks
  • 2 days Ecuador Seeks To Clear Schlumberger Debt By End-November
  • 2 days Santos Admits It Rejected $7.2B Takeover Bid
  • 2 days U.S. Senate Panel Votes To Open Alaskan Refuge To Drilling
  • 2 days Africa’s Richest Woman Fired From Sonangol
  • 3 days Oil And Gas M&A Deal Appetite Highest Since 2013
  • 3 days Russian Hackers Target British Energy Industry
  • 3 days Venezuela Signs $3.15B Debt Restructuring Deal With Russia
  • 3 days DOJ: Protestors Interfering With Pipeline Construction Will Be Prosecuted
  • 3 days Lower Oil Prices Benefit European Refiners
  • 3 days World’s Biggest Private Equity Firm Raises $1 Billion To Invest In Oil
  • 4 days Oil Prices Tank After API Reports Strong Build In Crude Inventories
  • 4 days Iraq Oil Revenue Not Enough For Sustainable Development
  • 4 days Sudan In Talks With Foreign Oil Firms To Boost Crude Production
  • 4 days Shell: Four Oil Platforms Shut In Gulf Of Mexico After Fire
  • 4 days OPEC To Recruit New Members To Fight Market Imbalance
  • 4 days Green Groups Want Norway’s Arctic Oil Drilling Licenses Canceled
  • 4 days Venezuelan Oil Output Drops To Lowest In 28 Years
  • 4 days Shale Production Rises By 80,000 BPD In Latest EIA Forecasts
  • 5 days GE Considers Selling Baker Hughes Assets
  • 5 days Eni To Address Barents Sea Regulatory Breaches By Dec 11
  • 5 days Saudi Aramco To Invest $300 Billion In Upstream Projects
  • 5 days Aramco To List Shares In Hong Kong ‘For Sure’
  • 5 days BP CEO Sees Venezuela As Oil’s Wildcard
  • 5 days Iran Denies Involvement In Bahrain Oil Pipeline Blast
  • 7 days The Oil Rig Drilling 10 Miles Under The Sea
  • 8 days Baghdad Agrees To Ship Kirkuk Oil To Iran
  • 8 days Another Group Joins Niger Delta Avengers’ Ceasefire Boycott
  • 8 days Italy Looks To Phase Out Coal-Fired Electricity By 2025
Oil Survives Bearish Backlash

Oil Survives Bearish Backlash

Crude benchmarks posted steep losses…

Mexico to Install 12,000MW of Renewable Energy Capacity by 2020

Mexico to Install 12,000MW of Renewable Energy Capacity by 2020

Mexico has set itself a target of installing 12,000MW of new renewable energy capacity by 2020.

Pablo Gottfried Blackmore, a member of the Asociación Mexicana de Energía Eólica, said that the “goal is 12 GW, and the Secretaria de Energia already has adopted that number. Studies we have analyzed seem to agree that there is 20 GW of wind potential in Mexico that would be competitive with gas prices. It is critical to bring in the small producers to reach this goal, however.”

20GW of wind energy is a lot and could make Mexico completely energy independent, with the majority generated in a renewable manner. However it is unlikely that so much wind capacity will be installed anytime soon. In October Mexico’s wind capacity was calculated at 1,000MW, and plans could see that increase to 2,500MW by 2014.

Another renewable energy source that will be important to Mexico is solar. The state of Sonora has been recently described as having the best insolation rate (a measure of the amount of solar radiation that falls on a given surface) in the whole of North America.

Related Article: Elections and Electrons

According to the report “Renewable Energies for Sustainable Development in Mexico” compiled for the Secretaria de Energia, just one solar power plant could have the potential to supply the entire country with all its electricity needs.

“Assuming a net system efficiency of 15%, a square of 25 km in Chihuahua or in the Sonora desert would be sufficient to supply all of Mexico’s electricity.”

By. Joao Peixe of Oilprice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News