(Bloomberg) — Mexico’s leading presidential candidate would spend about $13.6 billion to increase her country’s use of renewable energy while adding gas-fired power plants, under a plan she presented to business leaders.
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The pioneer’s plan Claudia Sheinbaum it would increase wind and solar power generation, modernize hydroelectric stations and add about 3,850 kilometers (2,392 miles) of transmission lines. It would represent a significant shift from the policies of President Andrés Manuel López Obrador, who has prioritized support for state oil company Petroleos Mexicanos over renewable energy.
Sheinbaum, who leads opposition candidate Xochitl Galvez by a wide margin in polls ahead of the June 2 elections, has pledged to continue supporting Pemex while pushing the country toward clean energy. Her plan, presented Monday at an event in Mexico City, would add about 13.7 gigawatts of electricity to the existing grid by 2030, she said. In the USA, one gigawatt can supply around 750,000 homes.
“We will accelerate the energy transition,” Sheinbaum said on Monday. “Moving forward, we are working on this energy plan not only with a view to 2030, but also until 2050 to align with international commitments on climate change.”
Its proposal would be complementary to gas and solar plants already planned or under construction, which are expected to add about 3.3 gigawatts of capacity to the grid this year.
If she wins the election, Sheinbaum will inherit Mexico’s largest budget deficit since the 1980s, which could complicate plans to accelerate Mexico’s transition to clean energy.
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“We have the possibility and potential to develop Mexico in a way that generates investments with well-being,” Sheinbaum said at the event. “At the same time, this development does not need to negatively impact the environment.”
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