World's cheapest solar project turns out to be a wind farm

Average prices fell by more than a third to USD 20.57/MWh in Mexico's third tender, where solar dominated once again, but wind saw a notable comeback.

Enel made the lowest bid in the Mexican tender. 11 percent lower than the cheapest solar project. | Photo: Gamesa

Mexico is adding 2,562 MW of new energy to its soil after the country's third tender. Altogether, 16 projects were awarded contracts at an average price of USD 20.57/MWh. This is 38.6 percent lower than the price secured in the previous tender in October last year and an entire 59.4 percent lower than the first tender in April 2016, announced the Mexican ministry of energy (SENER).

"Renewables give the opportunity to secure power at cheap prices thanks to extraordinary technological advances," said Mexico's Minister for Energy, Pedro Joaquin Coldwell.

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