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Renewable energy portfolio in Mexico for Industry 5.0 and SDGs: Hydrogen, wind, or solar?

Moein Khazaei Orcid Logo, Fatemeh Gholian-Jouybari Orcid Logo, Mahdi Davari Dolatabadi Orcid Logo, Aryan Pourebrahimi Alamdari Orcid Logo, Hamid Eskandari Orcid Logo, Mostafa Hajiaghaei-Keshteli Orcid Logo

Renewable and Sustainable Energy Reviews, Volume: 213, Issue: 115420, Start page: 115420

Swansea University Author: Hamid Eskandari Orcid Logo

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DOI (Published version): 10.1016/j.rser.2025.115420

Abstract

Despite a surge in Foreign Direct Investment (FDI) in Mexico, like nearshoring, the slow growth in international investment in renewables challenges the country's progress in achieving Sustainable Development Goals (SDGs) related to clean energy. To the best of current knowledge, this research...

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Published in: Renewable and Sustainable Energy Reviews
ISSN: 1364-0321
Published: Elsevier BV 2025
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URI: https://cronfa.swan.ac.uk/Record/cronfa69147
first_indexed 2025-03-24T17:47:39Z
last_indexed 2025-05-16T09:44:17Z
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spelling 2025-05-15T11:23:33.1415683 v2 69147 2025-03-24 Renewable energy portfolio in Mexico for Industry 5.0 and SDGs: Hydrogen, wind, or solar? d2a47b056b55373889a9d19d2924f634 0000-0002-5515-9399 Hamid Eskandari Hamid Eskandari true false 2025-03-24 CBAE Despite a surge in Foreign Direct Investment (FDI) in Mexico, like nearshoring, the slow growth in international investment in renewables challenges the country's progress in achieving Sustainable Development Goals (SDGs) related to clean energy. To the best of current knowledge, this research is one of the first to explore the integration of renewable energy (Green/Blue/Turquoise Hydrogen, Solar, and Wind plants) in Mexico, emphasizing a diverse portfolio of projects aligned with SDGs and Industry 5.0. While previous works have focused on the nexus between energy, Industry 4.0, and sustainability, the present study advances this discourse by incorporating Industry 5.0 principles and a comprehensive methodological approach. Through a comprehensive methodology involving Value-Focused Thinking (VFT), fuzzy Decision-Making Trial and Evaluation Laboratory (DEMATEL), and multi-objective mathematical programming, the study identifies key criteria encompassing social, economic, environmental, and technological dimensions. The resulting criteria form a robust framework for evaluating project sustainability. The fuzzy DEMATEL analysis reveals intricate interrelations among criteria, emphasizing the need for balanced considerations. Results highlighted job creation, income equality, and microfinance support as key social considerations, while energy-related criteria emphasized sustainable practices. The proposed multi-objective programming model and COmbined COmpromise SOlution (COCOSO) method facilitated the selection of eight projects, with one project as the top-ranked option across various scoring strategies. Overall, this research provides a nuanced roadmap for effective decision-making in renewable energy projects, offering insights into project strengths, weaknesses, and potential areas for improvement. Journal Article Renewable and Sustainable Energy Reviews 213 115420 115420 Elsevier BV 1364-0321 Renewable energies, Industry 5.0, Sustainable development goals, Portfolio selection, Nearshoring 1 5 2025 2025-05-01 10.1016/j.rser.2025.115420 COLLEGE NANME Management School COLLEGE CODE CBAE Swansea University Other 2025-05-15T11:23:33.1415683 2025-03-24T17:33:16.8328692 Faculty of Humanities and Social Sciences School of Management - Business Management Moein Khazaei 0000-0002-3323-890x 1 Fatemeh Gholian-Jouybari 0000-0002-5164-0644 2 Mahdi Davari Dolatabadi 0009-0002-7520-2013 3 Aryan Pourebrahimi Alamdari 0009-0004-2840-4792 4 Hamid Eskandari 0000-0002-5515-9399 5 Mostafa Hajiaghaei-Keshteli 0000-0002-9988-2626 6
title Renewable energy portfolio in Mexico for Industry 5.0 and SDGs: Hydrogen, wind, or solar?
spellingShingle Renewable energy portfolio in Mexico for Industry 5.0 and SDGs: Hydrogen, wind, or solar?
Hamid Eskandari
title_short Renewable energy portfolio in Mexico for Industry 5.0 and SDGs: Hydrogen, wind, or solar?
title_full Renewable energy portfolio in Mexico for Industry 5.0 and SDGs: Hydrogen, wind, or solar?
title_fullStr Renewable energy portfolio in Mexico for Industry 5.0 and SDGs: Hydrogen, wind, or solar?
title_full_unstemmed Renewable energy portfolio in Mexico for Industry 5.0 and SDGs: Hydrogen, wind, or solar?
title_sort Renewable energy portfolio in Mexico for Industry 5.0 and SDGs: Hydrogen, wind, or solar?
author_id_str_mv d2a47b056b55373889a9d19d2924f634
author_id_fullname_str_mv d2a47b056b55373889a9d19d2924f634_***_Hamid Eskandari
author Hamid Eskandari
author2 Moein Khazaei
Fatemeh Gholian-Jouybari
Mahdi Davari Dolatabadi
Aryan Pourebrahimi Alamdari
Hamid Eskandari
Mostafa Hajiaghaei-Keshteli
format Journal article
container_title Renewable and Sustainable Energy Reviews
container_volume 213
container_issue 115420
container_start_page 115420
publishDate 2025
institution Swansea University
issn 1364-0321
doi_str_mv 10.1016/j.rser.2025.115420
publisher Elsevier BV
college_str Faculty of Humanities and Social Sciences
hierarchytype
hierarchy_top_id facultyofhumanitiesandsocialsciences
hierarchy_top_title Faculty of Humanities and Social Sciences
hierarchy_parent_id facultyofhumanitiesandsocialsciences
hierarchy_parent_title Faculty of Humanities and Social Sciences
department_str School of Management - Business Management{{{_:::_}}}Faculty of Humanities and Social Sciences{{{_:::_}}}School of Management - Business Management
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active_str 0
description Despite a surge in Foreign Direct Investment (FDI) in Mexico, like nearshoring, the slow growth in international investment in renewables challenges the country's progress in achieving Sustainable Development Goals (SDGs) related to clean energy. To the best of current knowledge, this research is one of the first to explore the integration of renewable energy (Green/Blue/Turquoise Hydrogen, Solar, and Wind plants) in Mexico, emphasizing a diverse portfolio of projects aligned with SDGs and Industry 5.0. While previous works have focused on the nexus between energy, Industry 4.0, and sustainability, the present study advances this discourse by incorporating Industry 5.0 principles and a comprehensive methodological approach. Through a comprehensive methodology involving Value-Focused Thinking (VFT), fuzzy Decision-Making Trial and Evaluation Laboratory (DEMATEL), and multi-objective mathematical programming, the study identifies key criteria encompassing social, economic, environmental, and technological dimensions. The resulting criteria form a robust framework for evaluating project sustainability. The fuzzy DEMATEL analysis reveals intricate interrelations among criteria, emphasizing the need for balanced considerations. Results highlighted job creation, income equality, and microfinance support as key social considerations, while energy-related criteria emphasized sustainable practices. The proposed multi-objective programming model and COmbined COmpromise SOlution (COCOSO) method facilitated the selection of eight projects, with one project as the top-ranked option across various scoring strategies. Overall, this research provides a nuanced roadmap for effective decision-making in renewable energy projects, offering insights into project strengths, weaknesses, and potential areas for improvement.
published_date 2025-05-01T06:46:11Z
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