Mexico awards more PPAs

October 01, 2016 | By Keith Martin in Washington, DC , Raquel Bierzwinsky in New York|Mexico City

Mexico awarded long-term power contracts to 23 companies in its second power auction.

The results were announced in late September. The auction awarded contracts to buy electricity, capacity and clean energy certificates—called CELs—from roughly 3,945 megawatts of projects. Of that amount, 2,891 megawatts will come from greenfield projects. The numbers break down to 1,824 megawatts of solar, roughly 1,129 megawatts of wind, 68 megawatts of hydro, 25 megawatts of geothermal and 899 megawatts of gas-fired combined cycle power plants, according to Javier Félix with our Mexico City office.

The weighted average price for energy and CELs offered in the second auction was $33.47 a megawatt hour, or 30% less than the $47.70 a megawatt hour average price in the first auction at the end of March.