Glenergy expects Mexico's next administration to accelerate renewable energy

Glenergy Renovables chairman David Lewis said the company was looking at Mexico, where it expected good news in the future.

Ruiz made the comments during the Madrid-based group's first-quarter earnings conference call, highlighting near-shoring effects with the United States and high energy demand.

“All [Mexico] “It's going to be an important market,” Lewis said, expressing his hopes for the country's next administration.

“No matter who wins, both candidates have expressed a strong interest in faster development of renewable energy,” he told analysts and investors ahead of Mexico's presidential and general elections on June 2.

read What a Xochitl Galvez Administration Means for Mexico's Energy Sector and Sheinbaum's $13.5 Billion Mexico Power Generation and Transmission Plan

In Mexico, Glenergy operates the 35 MW San Miguel de Allende solar power plant, which began operations in 2021.

The company's Mexican pipeline includes 461MW in the initial stages. Solar projects and identified solar opportunities total 673MW. Grenergy has a 50% development success rate for early stage projects and 20-40% for identified projects.