Comision Federal de Electricidad is set to hold a board vote on Oct. 20 that encompasses over 60 proposed facilities, according to someone familiar with the plans. Most are wind and solar sites designed to inject roughly 8.2 gigawatts into the grid, with costs around $12.5 billion depending on transmission needs. A second person said fewer projects could make it through to final approval than the number initially up for consideration.
CFE said it is still negotiating terms with developers, and it is too soon to know how many projects will ultimately advance. The goal is to reinforce a grid that has seen seasonal outages in recent years, particularly on the Yucatan Peninsula, after prolonged underinvestment left too little generation and too few transmission lines to meet demand.
Bringing in outside capital marks a turn from former President Andres Manuel Lopez Obrador, who mostly shut out foreign money from the electricity industry. Even with that shift, the rules still require government control of at least 54% of plant ownership. Sheinbaum's broader buildout aims to add 32 gigawatts of new capacity by 2030, with 40% coming from renewables. Separate targets include reaching 38% renewable power within the next four years, based on Energy Ministry estimates cited by the Mexico Institute for Competitiveness.
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If even a solid slice of these projects proceeds, equipment makers, grid contractors, and financing partners could see steady deal flow tied to about 8.2 gigawatts of additions. The bottom line: execution risk is real until contracts are finalized, but Mexico's pivot to private partnerships, paired with state majority ownership requirements, sketches a clearer framework for capital to plug into the country's power expansion.
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