Large Scale Renewable Energy Development Project

Project Summary

In order to reduce GHG emissions while responding to increasing energy demand and energy diversification imperatives, Mexico is exploring a long-term strategy (to be implemented over the next 7-8 years) to accelerate the commercialization of renewable energy technologies, particularly at the grid-connected level. The GOM seeks to directly stimulate renewable energy through a GEF-supported financial mechanism to deliver incentive (tariff) support on a competitively procured basis to jump-start the market, and facilitate these investments through regulatory changes and policy commitments at the national level. The program will develop a continuous stream of investments with a declining level of concessional support over time, and integrate these investments with policy and market recognition of the energy capacity, environmental and diversification value of renewable energy sources at the tariff level. Coupled with significant commercial financing, the expected level of tariff support implies an approximately 10:1 leveraging of GEF funds or higher.

Project Details

GEF Project ID
1900
Project Type
Full-size Project
Status
Completed
Country
Mexico
Region
Focal Areas
Funding Source
GEF Trust Fund
Implementing Agencies
The World Bank
Executing Agencies
Secretaria de Energia, Government of Mexico
GEF Project Manager
Christine Woerlen |

Financials

Project Preparation Grant Amount
350,000 USD
GEF Project Grant
25,000,000 USD
Co-financing Total
247,500,000 USD
GEF Agency Fees
2,470,000 USD
Total Cost 272,850,000.00 USD

Project Timeline

Received by GEF
04 Nov 2002
Preparation Grant Approved
06 Mar 2003
Concept Approved
01 May 2003
Project Approved for Implementation
02 Jun 2006
Project closed
30 Apr 2016