Mexico: EU to Fund R&D in Geothermal Energy

Mexico to quadruple clean energy R&D investment (Business News Americas)

Centers for innovation in geothermal to be established

Mexico energy minister Pedro Joaquín Coldwell

Mexico will quadruple investment in clean energy research and development over the next five years to US$310 million, according to an energy ministry statement.

The ramping up of investment is part of the country's obligations assumed at the COP21 climate conference in Paris last year, energy minister Pedro Joaquín Coldwell said during a visit to San Francisco, California, to attend the seventh ministerial clean energy meeting (CEM7).

He said that the US$310 million will be used to develop five centers for innovation, focusing on geothermal, solar, wind, bio-energy and wave power, as well as one for smart grids and another for carbon capture.

Mexico will also sign an agreement with the European Union on cooperation in research and development in geothermal energy over the next three years, to which each party will contribute 10 million euros (US$11.1 million), the ministry said.

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