Mexico’s energy sector is undergoing a significant shift toward renewable sources following the introduction of a strategic energy transition roadmap announced in February. President Claudia Sheinbaum’s administration has implemented reforms designed to increase private sector participation in the country’s energy market while prioritizing the expansion of clean energy generation.
The government’s roadmap targets the addition of more than 32 gigawatts of new electrical generation capacity by 2030, with a requirement that at least 70 percent originate from renewable sources. The plan includes specific expansion goals for various renewable energy types, including a 140 percent increase in photovoltaic generation, 90 percent growth in geothermal capacity, and 70 percent expansion of wind energy. These objectives are intended to increase renewable energy’s share in Mexico’s electricity mix from 24 percent to 38 percent by 2030.
This represents a marked departure from the previous administration’s approach, which between 2018 and 2024 pursued greater nationalization of the energy sector and restricted foreign investment in renewables. The current government has opened the door to private companies, allowing them to develop up to 9.6 gigawatts of renewable capacity through a framework where private investments will account for 46 percent of electricity generation.
Several major projects are already advancing under the new framework. A Danish energy company reached a final investment decision on a 420-megawatt solar-plus-storage project in the southeastern state of Campeche, with construction expected to reach completion in 2028. Mexico’s largest solar facility, located in Puerto Peñasco in Sonora, is progressing through its construction phases and is projected to eventually reach 1 gigawatt of installed capacity. Wind energy infrastructure continues expanding as well, with 76 existing farms across 16 states currently supporting over 12 million households and generating an estimated $4 billion to $5 billion in investment through 2030.
Analysts project that Mexico’s installed photovoltaic capacity will more than triple by 2035, reaching 37.8 gigawatts, driven by favorable climatic conditions and the government’s supportive policy environment for renewable energy development.
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