Iberdrola’s sale of 13 power plants to the Mexican government has almost freed the company from all the regulatory problems it had in Mexico, chief financial officer José Sainz told La Jornada on April 6.
“In terms of the regulatory issues that we have with the Mexican government, some of them have been related to assets that we have transferred or sold to the Mexican government. (…) Therefore, we can say that we have almost no problems with the Mexican government. This is a very important element of the agreement,” Sainz said.
The agreement with the Mexican authorities includes the sale of 12 combined cycle plants with a total installed capacity of 8,400 megawatts and a wind farm with a capacity of 103 megawatts, according to a document provided by Iberdrola to investors and analysts.
Iberdrola’s director of corporate development, David Mesonero, said that the agreement is the company’s largest operation in the energy sector in Mexico and the fifth largest in Latin America, and one of the most important for Iberdrola.
On April 3, the President of Mexico, Andrés Manuel López Obrador, and the CEO of Iberdrola, Ignacio Sánchez Galán, announced that the energy company will sell 13 power plants to the Mexican government. This agreement means that Mexico’s Federal Electricity Commission (CFE) will receive 55.5% of the country’s generation capacity.
Source: Rossa Primavera
I am Michael Melvin, an experienced news writer with a passion for uncovering stories and bringing them to the public. I have been working in the news industry for over five years now, and my work has been published on multiple websites. As an author at 24 News Reporters, I cover world section of current events stories that are both informative and captivating to read.