The Mexican government said its electricity expansion plan aims to add 32 GW of capacity by 2030, with 70% coming from renewable energy, and a projected investment of $42 billion.

Mexico’s President Claudia Sheinbaum Pardo presented last week the country’s Renewable Energy Growth Plan, which aims to increase the share of clean energy in the electricity mix, reduce fossil fuel consumption, and cut dependence on natural gas imports.

The plan envisages 32 GW of new power generation capacity over the next six years, 70% of which will come from renewable sources. “For the first time in history, we have projects totaling 32 GW planned over six years—or five years now—and 70% of them are from renewable sources,” she said during her morning press conference, adding that natural gas consumption is expected to fall while renewable generation rises toward 2030 targets.

Energy Secretary Luz Elena González Escobar said the expansion will require an investment of MXN 739 billion ($42 billion). Of the total, 42.6% will be developed under mixed schemes, 36.6% through state resources, and 20.8% via private investment.

The government aims to maintain a 61% state share of total electricity generation by the end of the current six-year term, while targeting 38% renewable electricity by 2030.

Planned capacity additions include a 140% increase in solar PV, 90% in geothermal, 70% in wind, and 18% in hydropower, the latter driven by upgrades to existing plants.

González Escobar said 50 photovoltaic plants totalling 7.85 GW and 17 wind farms totalling 4.7 GW MW are currently under development, with a further 2.16 GW to be allocated.

Federal Electricity Commission (CFE) Director General Emilia Esther Calleja Alor highlighted two flagship projects. The first, Oasis, in Baja California Sur, will combine a 72 MW solar plant, a 20 MW battery storage system, and green hydrogen.

The second, the Rafael Galván Maldonado photovoltaic plant in Puerto Peñasco, Sonora, is already operating in two phases, totaling 420 MW of PV and 72 MW of storage. A third phase, adding 300 MW and 103 MW of storage, is under development. Once all four stages are complete, the facility will reach 1 GW of capacity and 246 MW of battery storage, with total investment exceeding $1.4 billion. The CFE says it will be the largest solar PV plant in the Americas.