Mexico City, (EFE) .- President Claudia Sheinbaum told the Spanish Iberdrola company that “I would not have to retire from Mexico”, because there are currently rules so that it can develop in the country, this before publications that suggest the possible exit of Mexico from the energy company.
After being asked about this possible exit, Sheinbaum said in his daily conference that Iberdrola “would not have to retire” from Mexico because “they are very clear what are the current rules so that they can develop (…) private investment in generation is viable, it is possible, there are the mechanisms, it has no problem and there is the legal certainty so that they can do it.”
The president first asked to see “if this news is true and if it is true, then they explain (Iberdrola) why, but it has nothing to do with the fact that there is no legal certainty.”
He pointed out that “when talking about the rule of law, it means that everyone is put in order. Then, because they are put in order (Iberdrola) within the framework of Mexican legislation, just as they do in Spain or in other parts of the world.”
Lee: Iberdrola seeks to sell assets in Mexico for 4,700 MDD; Sheinbaum says he wouldn’t have to leave
Several media published on Thursday an information from the Spanish website El Confidencial who points out that Iberdrola hired the Barclays investment bank to sell 15 renewable energy plants in Mexico with the aim of leaving the country, this in the face of concern for legal and fiscal stability in the nation.
The published information indicates that Iberdrola will sell 45% of its business in Mexico because it has doubts about the legal certainty offered by the Sheinbaum government and the Latin American region.
The Spanish company maintained tensions with the administration of President Andrés Manuel López Obrador, who in February 2024 culminated in the purchase of 13 electric plants to Iberdrola by the State for around 6.2 billion dollars.
On June 12, 2023 Iberdrola signed the sale agreement of 13 electricity generation plants to the largest fund manager in the country, the state Mexico Infrastructure Partnets (MIF), and the National Infrastructure Fund (FONADIN), for a value of 6.2 billion dollars and that would provide 8,539 megawatts (MW).
When announcing the acquisition, AMLO considered the purchase as a “new nationalization”, by granting the public sector 54% of the electricity generation in the country.
While in the early days of his government, Sheinbaum made it clear that private companies that want to venture into the energy market, as Iberdrola announced at that time, should adhere to the “rules.”
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