LatinNews Daily - 18 June 2021

In brief: Mexico’s CFE announces major investments

* The Comisión Federal de Electricidad (CFE), Mexico’s state-owned electricity company, has announced major investments towards electricity generation and strengthening power transmission lines across the country. CFE president of strategic planning, Mario Morales Vielmas, said that US$2.9bn would be invested in the creation of six electricity generation projects, prioritising renewable energy sources, namely hydroelectric generation. CFE director of operations, Carlos Morales Mar, stated that these investments will increase efficiency, moving towards an expected 10% of total national electricity to be sourced from hydropower by 2050. Director of strategic planning Guillermo Arizmendi Gamboa further detailed that planned tenders for 47 projects will bring in approximately M$48.6bn (US$2.38bn) in investment between 2021 and 2025. These projects, which aim to strengthen power transmission lines and national electricity distribution, will respond to rising demand for electricity across various sectors of the economy.

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