Mexico planning to add up to 30 GW of new power capacity by 2030

Mexico could add close to 30 GW of new power capacity, mostly natural gas-fired, by 2030, according to a state utility CFE plan presented Feb. 5.

Mexico will add 29.1 GW of capacity in the next six years, when President Claudia Sheinbaum ends her term, the company's CEO, Emilia Esther Calleja, said during Sheinbaum's daily press conference.

Roughly 7 GW of the new capacity will come as CFE completes the construction of 10 plants that were announced under the term of former President Andres Manuel López Obrador and 6.4 GW are from clean energy projects proposed by the private industry.

"Some of these plants will begin operations as early as the Q1 of 2025," Calleja said. During a first phase, CFE will complete a set of projects that will add 5.9 GW, including 1.7 GW using solar energy and 3.4 GW with combined cycles, she said.

This greater use of gas will help the company reduce its use of fuel oil, reducing emissions, Calleja said.

The expansion plan includes a joint venture with state oil and gas company Pemex to utilize some of its plants with new technology. By the end of the decade, CFE plans three cogeneration plants at Pemex petrochemical facilities -- Cangrejera, Tula and Salina Cruz -- which will add 2.4 GW of capacity, she said.

In terms of transmission, CFE also plans to make new investments. By 2030, CFE intends to complete 59 unfinished projects from the previous administration worth $3.2 billion and build 61 more worth $2.27 billion, she said.

By the end of 2024, there were 92 GW of installed capacity in Mexico, 45 GW of which belong to CFE.