Mexico moves to nationalise power generation sector
MEXICO CITY, April 6, 2023 – The Mexican government has acquired 13 local power generation facilities from Spanish utility company Iberdrola for USD 6 billion, President Andrés Manuel López Obrador announced on Tuesday.
The assets include gas-fired facilities and a 103-MW wind farm that generate 8.54 GW of power, around 10% of Mexico’s total installed capacity.
The transfer of assets is expected to be complete in September 2023, at which point they will be operated by the Federal Electricity Commission.
The move will see the state body take the majority share in Mexico’s power generation activities, moving from around 40% of the market to 56%.