Energia Renovable de la Peninsula, which is one of the projects held jointly by China-based Envision Energy and ViveEnergia, a Mexican company developing renewable energy projects, was awarded a long-term power purchase contract with Mexico’s Federal Electricity Commission (CFE), said Envision in an April 6 statement.
A strategic agreement signed in 2015 between Envision and ViveEnergia represented China’s largest direct investment in Mexico in the sector. This alignment of world class technology and proven local capabilities allowed the companies to put forward a highly competitive bid for this 90-MW wind farm in Mexico’s first power auction, Envision noted.
Participation in the Electricity, Power and Clean Energy Certificates Auction, organized by the National Center for Energy Control (CENACE), Mexico’s Independent System Operator, was much higher than the government expected, said Envision. There were 468 offers from 103 bidders to provide clean energy, and only 18 offers from 11 participants were selected. The auction allows CFE to obtain clean energy at an average price per megawatt hour of US$47.78/MWh.
Envision said it and ViveEnergia will be finalizing contracts in the coming months. Construction of a 70-MW wind farm under the self-consumption regime is expected to begin in the second half of 2016, and the 90-MW wind farm is expected to be operational in 2018, bringing Envision and ViveEnergia’s wind development and power generation capacity in the Yucatan Peninsula to 160 MW.
“Our congratulations go out to the Mexican Government for its commitment to Clean Energy generation and for being a significant asset in the fight against Global Climate Change,” said Zhang Lei, Envision’s CEO.