Mexico:

Mexico Ready for Geothermal Energy Boost (Bloomberg)

(Courtesy CIA.gov)

Chief Executive Officer Enrique Ochoa said Comision Federal de Electricidad (CFE) will submit bids to the energy ministry next month seeking geothermal projects as well as development areas the company hopes to retain in an upcoming auction known as round zero. Mexico’s energy overhaul approved last year modified a constitutional article to allow for private investment in geothermal projects.

“There is a great opportunity for geothermal energy in Mexico,” Ochoa said. “It has not been explored much and has been difficult to develop. I am convinced that this legal change is going to result in geothermal energy taking off.”

The energy ministry has 120 days to determine the geothermal areas that CFE will maintain, while remaining areas will be auctioned off in subsequent open bidding rounds, Ochoa said. CFE will also consider establishing joint ventures with private companies to develop geothermal projects, he said.

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