Mexico’s Sheinbaum Wants Debt-Laden State Oil Giant to Go Green

Mexico’s leading presidential candidate wants to revitalize troubled state oil company. Claudia Sheinbaum wants to focus on clean energy. Petroleos Mexicanos' $106 billion debt problem is a big problem for the company. Sheinba wants to fix the debt-laden state oil giant with a focus on green energy.

Claudia Sheinbaum, favorite to win Mexico's presidential election in June, outlines plan to invest $13.57 billion in new energy projects through 2030. The ambitious program plans to increase wind and solar power generation and modernize five hydroelectric plants. It would represent a significant shift from the policies of current President Andres Manuel Lopez Obrador.

Mexico's leading presidential candidate would spend around $13.6 billion to boost her country's use of renewable energy. Plan would still add gas-burning power plants, she says. Plan presented to business leaders by Mexican presidential candidate Sheinbaum. Plan is to boost renewable energy while still adding gas-burned power plants.