Energia Renovable de la Peninsula, one of the projects held jointly by smart energy provider Envision Energy, and Mexico-based renewable energy company ViveEnergia, won a long-term power purchasing contract with the Mexican Federal Electricity Commission, or CFE.
The strategic agreement signed in 2015 between Envision and ViveEnergia represented China’s largest direct investment in Mexico in the sector. This alignment of technology and local capabilities allowed the companies to put forward a bid for a 90 MW wind farm in Mexico’s first power auction.
Participation in the Electricity, Power and Clean Energy Certificates Auction, organized by the National Center for Energy Control, Mexico’s Independent System Operator, was much higher than the government expected. There were 468 offers from 103 bidders to provide clean energy, and only 18 offers from 11 participants were selected.
The auction was very successful for the Mexican government, allowing the CFE to obtain clean energy at an average price per MW hour of $47.78/MWh. This was possible thanks to the cutting edge technology brought by Envision and other participants in the auction.
Envision and ViveEnergia will be finalizing contracts in the coming months. Construction of a 70 MW wind farm under the self-consumption regime is expected to begin in the 2nd half of 2016, and the 90 MW wind farm is expected to be operational in 2018, bringing Envision and ViveEnergia’s wind development and power generation capacity in the Yucatan Peninsula to 160 MW. With these projects and others being developed in the region and other areas of the country, Envision and ViveEnergia are committed to Mexico’s future in the Renewable Energy Sector.
“Our congratulations go out to the Mexican Government for its commitment to Clean Energy generation and for being a significant asset in the fight against Global Climate Change,” said Zhang Lei, Envision’s CEO.