The importance of complying by the Rule of Law for investments
By Israel Hurtado, Executive Secretary of ASOLMEX.
In recent days, the Mexican Ministry of Energy conducted a series of modifications to the stablished guidelines for the granting of Clean Energy Certificates (known as CEL’s) that infringe the fundamental grounds for investment protection in Mexico, principles that are protected not only inside the Mexican legal framework, but also by international treaties.
These changes entail a significant change to the electrical field’s regulatory framework that gravely affect the national Rule of Law, directly impacting ongoing operation and construction projects in the sector.
In this regard, the decision jeopardizes the main scheme for boosting investment in national renewable energy and sets a negative record regarding investors confidence. It distorts the only procedure considered in the Mexican Law to boost the sustainable energy transition in the country that would help it to comply with the mandatory national goal of adopting 35% of clean energy by 2024, in line with the commitments established in the COP 21.
It is worth mentioning that, since the publishing of the draft bill, over 60 companies, industry associations and civil society organizations asked the National Commission for Regulatory Improvement to open a Regulatory Impact Analysis procedure that would allow discussion and participation from society around such an important topic for the economic and environmental future of the country.
Please note that the clean energy industry carries important investments; solar energy means an investment of over 8.5 billion dollars and the generation of over 60,000 jobs around the hole value chain. For this reason, we trust that the Rule of Law and legal certainty will prevail in the benefit of millions of Mexicans around the country.
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