MEXICO CITY, October 4, 2024 - In her inaugural address, President Claudia Sheinbaum announced a commitment to renewable energy, aiming for a 45% share of total electricity production by 2030. This marks a significant shift from the fossil fuel policies of her predecessor, Andrés Manuel López Obrador, who previously halted energy auctions for solar and wind projects.
Key Details:
Current renewable energy share: 24% (2023 data).
Target: 45% renewable energy by 2030, aligning with Paris Agreement goals.
First-ever oil production cap set at 1.8 million barrels per day, down from 2.6 million barrels promised by López Obrador.
Sheinbaum emphasizes efficiency and renewable sources over increased oil production.
Experts note that Mexico's oil fields are nearing depletion, with only about ten years of production left at current rates. Sheinbaum's administration is expected to encourage private investment in renewable energy despite existing legal constraints favoring state control of electricity generation.