Mexico announced new commitments at COP27 in Egypt, including a new renewable energy plan of 30GW.
The country plans to add more than 30GW of new wind, solar, geothermal and hydroelectric capacity by 2030, according to a joint statement released Monday by Mexico's foreign ministry and the U.S. embassy in Mexico. This will bring combined wind and solar power generation to over 40GW.
Mexico's foreign minister, Marcelo Ebrard, and the U.S. president's climate envoy, John Kerry, shared Mexico's pledge.
Mexico also outlined an initial investment plan of up to $48 billion (46 billion euros) to meet new renewable energy targets.
Mexico's ambitions include a 35 percent reduction in greenhouse gas emissions over the next eight years, an increase from the 22 percent reduction previously pledged.
According to the statement, “The United States intends to work closely with Mexico to achieve these ambitious goals, including through U.S. efforts to mobilize financial support and joint efforts to promote and incentivize investment in new renewable energy deployment and transmission in Mexico.”