Mexico has already selected a significant portion of the companies that will shape its energy transition over the next decade. In just six months, the country awarded more than 10.7 GW through two processes that are redefining the national electricity landscape: first, the 2025 Private Generation Projects Call for Bids , which allocated more than 3.3 GW of renewable energy and 1,257.4 MW of storage ; and second, the Mixed Development Scheme with the Federal Electricity Commission (CFE) , which awarded 7,411 MW across 37 projects on June 5th.
Among the big winners of both processes are some of the companies seeking to lead the next wave of renewable energy investments in Mexico. In the case of the 2025 Private Generation Projects Call for Proposals, firms such as Sunstone Power, Iberdrola, Idea Energía, Copenhagen Infrastructure Partners (CIP), Dhamma Energy, Revolve Renewable Power, Gemex, and Alten Energías Renovables stand out, while in the mixed scheme, names like Thermion Energy, Oak Creek, Terralia, Fisterra Energy, Cubico México, Solarig, Atlántica Renewable Power, Atlas Renewable Energy, Quantum Energía, and Aselco appear, among others.
If we analyze the capacity awarded in both processes, a small group of companies emerges as the big winner of the new Mexican renewable energy era.
Thermion Energy has emerged as the leading recipient of capacity. The company has secured over 1,600 MW , solidifying its position as one of the players with the greatest exposure to the growth of the Mexican electricity market.
Second place goes to Oak Creek Energy , with approximately 1,160 MW awarded, positioning itself among the main beneficiaries of the mixed scheme promoted by the CFE.
Among the leaders, Sunstone Power , backed by Copenhagen Infrastructure Partners (CIP) , also stands out with more than 1,040 MW of renewables and nearly 470 MW of storage , making it the company with the largest presence in the 2025 Private Generation Projects Call.
In fourth place is Terralia Energía y Campo , with approximately 705 MW of wind power awarded, and 952 MWh of storage.
Fisterra Energy follows, having accumulated around 659 MW awarded , consolidating its position among the main developers selected during the last year.
Another player gaining prominence is Cubico México , with nearly 500 MW awarded , reinforcing its presence within the Mexican renewable energy market.
Also noteworthy is Dhamma Energy , which secured 459 MW of photovoltaic generation and 147.5 MW of storage , a combination that reflects the growing importance of hybrid projects within the country's new energy planning.
Another notable name is Green Park Energy , an Iberdrola subsidiary, which received approval to develop the Tecozautla photovoltaic plant (122.3 MW) in Hidalgo and the El Toro plant (107 MW) in Guanajuato. Both projects also incorporate energy storage systems of 31.3 MW and 29.7 MW, respectively.
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Iberdrola's presence among the awarded contracts is particularly noteworthy considering the profound transformation the company is undergoing in Mexico. It's worth recalling that months ago , Cox announced the acquisition of Iberdrola México for $4.2 billion , a transaction that includes approximately 2,600 MW of installed capacity , of which 1,232 MW are renewable assets , in addition to a development pipeline of nearly 12 GW and a market share of around 25% in the electricity supply market for large consumers.
Following behind are developers such as Solarig, Atlántica Renewable Power, Atlas Renewable Energy, Quantum Energía, Aselco, Idea Energía, Alten Energías Renovables, Revolve Renewable Power and Genux Power, companies that managed to position themselves within one of the two processes and that will seek to expand their participation in the next calls.
Competition for access to the projects was particularly intense. In fact, more than 55% of the proposals that advanced to the final evaluation stages within the mixed scheme failed to secure capacity . Among the companies that were left out are industry leaders such as Invenergy, AES Mexico, HDF Energy, and Proyener , among other developers who will likely compete again in the upcoming rounds.
Beyond the allocated capacity, the regulatory timeline is already underway for the selected projects. The submission of performance bonds must be completed before June 30, 2026 , while the signing of contracts and the delivery of development guarantees are scheduled for July 3, 2026 , marking the formal start of the implementation phase.
It is no coincidence that these awards have generated such interest. The last large-scale allocations of renewable capacity in Mexico date back to the long-term auctions held in 2017 , when companies like Enel Green Power and Engie secured a significant portion of the contracts awarded under the model promoted by the then-wholesale electricity market, with prices hovering around USD 20/MW. Almost a decade later, the names have changed, the rules have changed, but the appeal of the Mexican market remains undiminished.
The next calls for applications are already underway
While the winning bidders move towards signing contracts, the Mexican government continues to expand the portfolio of projects it seeks to incorporate into the national electricity system.
The new calls for proposals for renewable energy generation and storage remain open, and their timelines were recently adjusted to give developers more time. It's worth noting that in the generation tender, companies can participate either privately or in partnership with CFE.
Until June 30, the review and prevention process of observations will be carried out by the National Energy Control Center (Cenace), a step prior to the definition of the interconnection studies.
Subsequently, participants will have to make the payments associated with those studies until July 15, and proceed with the submission of permit applications to the National Energy Commission (CNE), a stage that will extend from July 16 to August 18.
The technical evaluation of the projects and their alignment with the binding planning criteria of the electrical system is scheduled for the first days of October. The results of the call for proposals will be published that same month, and the permits approved by the CNE Technical Committee will be announced. This committee meeting, originally scheduled for September 23, will now take place on October 12.
The continuation of these processes confirms that the more than 10 GW awarded between December and June represent just the beginning of a much broader expansion. With new calls for bids underway, dozens of developers still in the running, and a growing integration of energy storage, Mexico is once again positioning itself as one of the most dynamic and competitive renewable energy markets in Latin America.