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LatinNews Daily - 16 July 2020

In brief: Mexico stalls power station tenders, buys coal

* Mexico’s state-owned electricity company Comisión Federal de Electricidad (CFE) has announced the cancellation of four tenders for the construction of electricity generation plants, citing economic difficulties caused by the coronavirus (Covid-19) pandemic. In a statement, the CFE also said it would carry out a redesign of the tender processes and finance strategies for the Salamanca, Baja California Sur VI, San Luis Potosí, and Los Humeros III Fase B projects. It insists it has the financial and technical capacity to complete these and all other projects aimed at increasing electricity generation as stated by President Andrés Manuel López Obrador. It adds that it will “analyse a range of finance scenarios” to ensure the development of the projects, “which are fundamental to recover the country’s capacity to generate electricity”, and that these will be made public in due course. The news followed an announcement on 14 July that CFE would purchase 2m tonnes of coal, a move it insists is not, unlike accusations in the press, a bet on “dirty energy” because at present coal accounts for only 9.46% of Mexico’s energy matrix, which is far less than the 38% global average.

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