Iberdrola to Reinvest US$6B in Renewable Energy in Mexico

To meet the anticipated energy demand from nearshoring over the next decade, Mexico requires a US$65 billion investment. Mexico Infrastructure Partners has initiated a US$2.42 billion issuance for the acquisition of Iberdrola's assets, representing 40% of the required resources.

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Iberdrola to Reinvest US$6 Billion in Mexico

Iberdrola will reinvest the US$6 billion it obtained from selling its assets to the Mexican government in renewable energy projects in the country. According to Katya Somohano, Director of Planning and Sustainability, Iberdrola, the company has a portfolio of prospects, but final decisions have not been made.

Billionaire Investment Needed to Meet Nearshoring Energy Demand

Mexico's lag in power generation capacity, as well as in its transmission and distribution network, requires a US$65 billion investment to meet the energy demands from nearshoring over the next decade, says Rafael Scott Torres, Partner, McKinsey.

MIP Prepares to Pay for Iberdrola Purchase

Mexico Infrastructure Partners launched a US$2.42 billion issuance through Development Capital Certificates on the Mexican Stock Exchange. These funds account for 40% of the resources needed to acquire Iberdrola's assets in the sale announced in April, as reported by El Economista.

Energía Real Secures Financing to Boost Decarbonization

Energía Real, a leading company in Mexico’s DG sector, has closed its first line of financing for operating assets with Banco Sabadell for MX$250 million (US$14 million). This will enable the company to progress toward its goal of reaching 300MW of clean energy in the next two years. 

Invenergy Unveils Ambitious Plans for Energy Generation in Mexico

The US company Invenergy is preparing 10 energy generation projects in the coming years, this is in addition to the five it is currently developing, according to Jonathan Pinzón, Senior Vice President of Government and International Regulatory Affairs for the company. One of these projects involves an on-site cogeneration plant and another aims at supplying electricity to industries, Pinzón mentioned in a meeting with the media.

CFE Reports Net Profit, Losses, Lower Financial Costs

CFE reported a net profit for the first nine months of 2023, the first time in four years. Results were driven in part by lower financial costs according to the Mexican Institute for Competitiveness. CFE's profit between January and September 2023, reached MX$86.2 billion (US$4.9 billion). This is a significant turnaround for CFE, given its accumulated losses of MX$34.4 billion between January 2018 and September 2023. Despite this, CFE still reported a loss of MX$1.6 billion in 3Q23.