Mexico is quadrupling its wind-power capacity in an effort to transform the country’s energy industry. Within three years, Mexico expects to have 10 gigawatts (GW) of turbines in operation across nearly every region, up from 2.5 GW in 2014. All totaled, the country plans to add 20 GW of wind generating capacity by 2030. The news was reported by Bloomberg.

Cost estimates for the complete buildout are around $46 billion. Mexico’s energy sector is in transition from a state-controlled energy monopoly and it is Mexico has pledged to cut its carbon emissions, in part by installing more renewable generating capacity. transforming a grid that relies on fossil fuels for three-fourths of the nation’s electricity.

Bloomberg says that Mexico is Latin America’s largest crude producer and the number 10 producer of greenhouse-gas emissions worldwide. It was one of the first developing countries to submit its plan to reduce carbon emissions before the Paris United Nations conference taking place in December, pledging to cut 22% of its greenhouse gas emissions by 2030.

Mexico’s economy is growing, and is forecast to expand 2.4% in 2015. Expectations are that energy demand will increase 4% annually over the next decade. Renewable generating capacity is expected to rise to 51% of total installed capacity by 2040, up from 14% at present. Most of that gain will come from wind.

The Mexican government plans to hold annual energy auctions, with the first set for March 2016. Power producers will receive certificates for every megawatt-hour of clean energy they generate, and will sell 20-year certificates through the auctions to large electricity users.

Large energy consumers must receive 5% of their power from clean sources by 2018. The country must also have 35% of its energy from non-fossil fuel sources by 2024, up from 21%.

News Articles:

U.S. Offshore Wind Moves Forward at a Crawl

Production Launches for 3MW Wind Turbine Blade

Wind Turbine Pile Test Shows Potential to Cut Costs