Mexico has pledged to deploy a further 30 gigawatts in renewable energy capacity by 2030, the nation’s Foreign Ministry said in a statement on Monday, as America’s third-biggest greenhouse gas emitter works with the United States to meet new climate goals.
Foreign Minister Marcelo Ebrard traveled to Egypt to attend the COP27 climate summit, where he met with U.S. climate envoy John Kerry and over the weekend presented Mexico’s plans to invest some $48 billion in developing renewable energy.
The new solar, geothermal, wind, and hydroelectric capacity would double Mexico’s renewable capabilities, from its installed capacity of around 30 GW at the end of 2021, and bring solar and wind capacities to 40 GW.
“This new national renewable goal will be a foundation for achieving Mexico’s updated nationally determined contribution,” the ministry said, a week after Mexico said it would raise its emissions reduction target for the first time since 2016.
The new goals would also see Mexico, a major car manufacturing hub, sell 50% zero-emissions vehicles by 2030.