Green Economy

Published on October 19th, 2015 | by Smiti


China’s Envision Energy Buys 600 MW Wind Energy Projects In Mexico

October 19th, 2015 by  

China’s largest direct investment in Mexico has come in the wind energy sector, as a wind turbine manufacturer has acquired controlling stake in a large-scale wind energy portfolio.

Envision Energy, a manufacturer of low speed wind energy turbines, has acquired a majority stake in a portfolio of wind energy projects with total capacity of 600 MW. The construction of the projects is yet to start — expected for 2016, with operations scheduled to begin by the end of next year — with the right to develop owned by ViveEnergia. 

Envision Energy and ViveEnergia have also announced a strategic partnership to develop 1.5 GW wind energy capacity by 2020.

The acquisition marks Envision Energy’s entry into a market dominated by Spanish wind energy company, Gamesa. According to a report by BT Consult, Gamesa, an original equipment manufacturer, commands a 73% share in the Mexican wind energy market.

While the financial terms of the deal have not been disclosed, it signifies how attractive the Mexican renewable energy market has become over the last few years. The government has set a target to source 5% of the country’s total electricity from renewable energy technologies by 2018, and 24% by by 2024.

A recent report by the International Renewable Energy Agency (IRENA) and the Mexican Energy Secretariat (SENER) also found that the share of renewable energy in Mexico’s total energy mix can be increased to 21% by 2030, while the share in electricity generated can be increased to 46% by 2030.

The report, however, also notes that the government will have to make significant changes to the policies in order to tap the full potential of its renewable energy resources. If no changes are made to the current policies, the share of renewable energy in the total energy mix would be restricted to just 10% by 2030.

Complete our 2017 CleanTechnica Reader Survey — have your opinions, preferences, and deepest wishes heard.

Check out our 93-page EV report, based on over 2,000 surveys collected from EV drivers in 49 of 50 US states, 26 European countries, and 9 Canadian provinces.

Tags: , , , ,

About the Author

works as a senior solar engineer at a reputed engineering and management consultancy. She has conducted due diligence of several solar PV projects in India and Southeast Asia. She has keen interest in renewable energy, green buildings, environmental sustainability, and biofuels. She currently resides in New Delhi, India.

  • JamesWimberley

    It looks as if the only way Chinese wind turbine manufacturers can get export contracts in Mexico is by buying the projects. The technical lead of the European and US firms is pretty solid.

    • Martin

      Well if you have to buy the project, that is still better than no sales at all.

      • JamesWimberley

        Absolutely. It’s still an indirect subsidy.

    • Ronald Brakels

      They are working at it. For example there’s a Chinese wind turbine testing site in Tasmania that gives them access to conditions that aren’t available in China. The roaring 40s down there would give the wind turbines a good workout.

Back to Top ↑