MEXICO CITY (Reuters) – The front-runner to win June’s Mexican presidential election claudia sheinbaumon Monday outlined plans to invest $13.57 billion in new energy power projects by 2030.
The ambitious plan plans to increase wind and solar power generation and modernize five hydropower stations. This is a major shift from the policies of current President Andrés Manuel López Obrador, who has prioritized strengthening state oil company Pemex over renewable energy since taking office in late 2018.
“We must accelerate the promotion of renewable energy,” Sheinbaum told a group of Mexican businessmen on Monday, specifying that new projects would add 13.66 gigawatts to the energy grid.
“We are working on a national energy plan not just for 2030, but for 2050,” Scheinbaum said, referring to deadlines set by international agreements on climate change.
If she wins the June 2 election, the former Mexico City mayor will become the country’s first female president and remain in office until 2030.
Mr. Sheinbaum, a close ally of Mr. López Obrador, has a commanding lead of more than 20 points over his closest challenger, opposition candidate Xochitl Gálvez.
The 61-year-old scientist vowed that if she became president, she would continue her predecessor’s legacy but change her approach to energy by prioritizing renewable energy.
But Sheinbaum’s plan, outlined Monday, also includes building a gas-fired power plant.
López Obrador poured government funds into heavily debt-laden Pemex during his administration, but the consequences of a “bailout” of the state-owned company will likely be imposed on his successor, sources told Reuters.
(Reporting by Diego Ore; Writing by Kylie Madrid; Editing by Sri Navaratnam)
