Both India and Mexico have made significant progress in the area of energy reforms. India’s cumulative solar installation have reached 7.5 GW in May 2016. Out of this a total of 2.2 GW solar capacity has been added during the first five months of 2016 – more than total solar capacity installations during the entire 2015. India has additional 22 GW solar installation projects in the pipeline out of which 13 GW are under construction, and another 9 GW are in the request for proposal phase.¹
Similarly, after passing the ambitious energy sector reforms and Paris Climate Change Accord, the Mexican government has started to give incentives for renewable energy generation. The Mexican government bought 2.1 GW for $2.6 billion in March 2016, which will be installed by 2018. In September, it will seek to buy between $2.6 to $2.8 billion more.²
There is huge potential for companies from both countries to join hands in this rapidly growing market. The private sector companies can enter into joint ventures, and leverage each other’s expertise. Mexico boasts world class manufacturing talent, and Indian companies can bring their experience of rapid expansion at affordable pricing to meet the growing demands of governments.
Vibrant Gujarat: Renewable Energy Sector Profile