Mexico remains committed to renewable energies and announces the rules of its fourth long-term electric auction
On March 28, 2018, Mexico’s Energy Regulatory Commission (CRE) and National Center for Energy Control (CENACE) launched the bases of the fourth long-term renewable energy auction in Mexico.
This will be the first long-term auction administered by the Mexico’s Energy Regulatory Commission (CRE) as the previous three auctions were administered by CENACE. The publication of the final version of the auction rules will be published on May 30, once the questions and clarification period ends.
Submission of the prequalification application for sale offers will be done on Aug. 21st-22nd and the delivery of the economic proposals of the sale offers on Oct. 17th and 22nd. The results of the auction will be announced on Nov. 2nd. As in the previous auction, prequalification requests must be validated by an independent expert.
Vector Cuatro has actively participated in the three renewable energy auctions held so far as independent expert for over 200 projects and providing also commercial and financial advice (including the construction of financial models and sensitivity analysis), previous technical due diligence studies of project portfolios, and annexes for electricity coverage contracts. Specifically, Vector Cuatro has analyzed 10 GW of projects, of which 2.6 GW were awarded to its clients and has strategically advised and prepared financial models for the auctions for a total of more than 15 projects.
Vector Cuatro is present in Mexico since 2013, providing asset management services, construction supervision, and technical and financial advice. Its 88 MW portfolio under management includes some of the first utility-scale photovoltaic projects operating in the country, developed under the schemes of ‘Pequeño Productor ‘ and ‘Autoabasto’. In addition, to date Vector Cuatro has participated as Owner’s Engineer and Independent Engineer in the construction and commissioning of five projects for a total of 180 MW, of which three are already in operation. Also, and in relation to financial and transaction services, Vector Cuatro has participated in the acquisition and sale of photovoltaic projects under the schemes of ‘Pequeño Productor ‘ and ‘Autoabasto’, analyzing a total of more than 600MW, has advised on operations with Contracts Private Supply, has acted as an independent expert in courts and arbitration and has provided financial modeling services in many of this operations.