Mexican Administration Offers Boost to Clean Energy, Infrastructure Under New Leadership
Claudia Sheinbaum made history last week as Mexico’s first female president and laid out her vision to promote clean energy and increase investment in the infrastructure sector. In contrast to the previous administration, during her inauguration speech, Sheinbaum committed to consume fewer fossil fuels and promote electromobility.
Among her 100 Government Commitments, Sheinbaum included:
- Increased reliance on renewable energy with a target of 45% share of the market by 2030;
- Program to promote photovoltaic panels to power homes, reducing electric power rates and environmental impact; and
- Program to manufacture electric vehicles accessible to a larger segment of the population.
Key to the above is public and private investments and safeguarding these, particularly those by foreign shareholders. In her speech, she promised autonomy of Mexico’s central bank, responsible fiscal policy, and a reasonable ratio between debt and GDP. The last administration saw a significant decrease in foreign direct investment in the energy sector.
In addition to her announcements on clean energy, Sheinbaum also promised the development of critical infrastructure—rail, highways, and ports—to coordinate a nearshoring policy to include the construction of 100 new industrial parks to promote Mexico as a destination for companies relocating operations closer to their target markets.
Details on timeline and participation by the private sector have yet to be announced.
Special thanks to Patricio Sandoval, a law clerk in Foley’s Mexico City office, for his contributions to this article.
