CFE Plans 22,000 MW of New Capacity and Private Capital for Its 2030 Plan

CFE plans to add more than 22,000 megawatts (MW) of new generation capacity and more than 158 transmission projects by 2030, with more than half of the financing off its balance sheet. The 2027 budget proposal assigns the state utility 523,747 million pesos, an 8.5% reduction in real terms compared with 2026, according to El Financiero's report published on September 8, 2026.

The budget adjustment affects both state companies. Expansión reported on September 15, 2026, that CFE's physical investment for 2027 will be 61,000 million pesos, a real reduction of 3.6% compared with this year's applicable spending, and that Pemex's exploration spending will fall 40.6%, from 39,495 to 23,452 million pesos, according to the 2026 vs 2027 Budget Comparison prepared by Ramses Pech, partner at Grupo Caravia. For the electricity sector, the difference between what is budgeted and what the infrastructure plan requires defines the framework for coinvestments with private partners that the company already operates in renewable generation.

CFE's 2026-2030 Development Program includes investments of 37,500 million dollars, equivalent to 740,000 million pesos, in generation, transmission, distribution and pipelines, of which 20,100 million are accounted for off balance sheet through alliances with private parties, according to Bloomberg Línea. In mixed projects the company contributes 54% and the private partner 46%, with a structure of 20% to 30% equity and 70% to 80% debt. CFE has already awarded mixed contracts for 8,000 MW of wind and photovoltaic capacity and has 5,800 MW pending in solar thermal, geothermal and cogeneration.

"The 40.6% cut in exploration jeopardizes the discovery of new deposits and medium-term production," Pech said in the analysis published by Expansión, which also documents 95 new substations, 95 expansions and 6,875 grid modernization works in the distribution plan.

The next checkpoint is the discussion of the 2027 budget in the Chamber of Deputies. In parallel, CFE expects an equity issuance from its Fibra E, an exchange-listed infrastructure trust, for 1,000 million dollars between October and December 2026.

This article was drafted with artificial intelligence assistance from verified sources and reviewed by a human editor before publication.