Iberdrola, the largest public services company in Europe, hired the Barclays investment bank to sell 15 renewable energy plants in Mexico and thus leave the country, El Confidencial newspaper reported, citing anonymous sources close to the operation.
Iberdrola assets are valued at about 4,000 million euros (4,700 million dollars), El Confidencial reported, adding that the company seeks to sell due to concern for the country’s legal and fiscal stability.
Iberdrola has already sold 55% of its assets in the country to the Mexican government for 6,000 million dollars in 2024, which the Government described at the time as a “new nationalization” of the electricity market.
The agreement was largely designed to grant the Mexican State Electric Company, the Federal Electricity Commission (CFE), the majority control of the local electricity market.
Iberdrola declined to comment, while Barclays did not respond immediately.
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Sheinbaum believes that the company would not have to retire
President Claudia Sheinbaum considered Thursday that Iberdrola would not have to withdraw from Mexico since there are rules so that it can develop.
“Why does it retire? If Iberdrola retires, it would not have to. In any case, the current rules are very clear so that they can develop, what we are asking for is that self -bass societies are put in order, and there is a table so that they can do it, because they remain illegal, because they generated electricity from a scheme that was not legal.
“It has nothing to do with the fact that there is no legal certainty, but simply to see: when talking about the rule of law, it means that everyone is put in order, then, that they put themselves in order within the framework of Mexican legislation, just as they do in Spain or elsewhere in the world,” said the president in her morning conference.
Sheinbaum said that private electrical investment has legal certainty, so it is viable for companies.
“So, that is the matter. Private investment in electricity 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, and there are many companies that want to generate and 54% of CFE is also guaranteed, its forms of financing, a part with natural gas, and another part with renewable energy,” he said.
With Reuters information
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