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Mexico Renewables Boom Challenges Brazil Lead in Investment Race

Jan. 16, 2018, 2:51 PM

Mexico’s booming clean-energy projects have put the country neck and neck with Brazil in the race for investments, and the country is poised to soon surpass the once undisputed regional leader.

Investments in Mexico’s clean power market jumped more than sixfold to $6.17 billion last year, according to data from Bloomberg New Energy Finance. That compares with 10 percent growth in Brazil, to $6.21 billion.

Mexican President Enrique Pena Nieto opened the country’s power, natural gas and oil markets to competition after decades of state monopoly in an effort to drive down costs for consumers and spur growth.

“The Mexican ...