Mexico's President López Obrador Announces Purchase of 13 Power Plants from Iberdrola

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Researched by Industrial Info Resources (Sugar Land, Texas)--Earlier this month, Mexico's President López Obrador announced the acquisition of 13 power plants from Iberdrola. Mexican state-owned utility Comision Federal de Electricidad (CFE) will be in charge of the operation and maintenance of the facilities.

Once negotiation details are fully defined and the operation secures all regulatory approvals, the acquisition could be signed in five months. This way, CFE will increase its participation in Mexico's power generation market from 39% to 55.5%.

The plants included in the acquisition are nine combined-cycle power plants constructed under the Independent Energy Producer (PIE) scheme, three private combined-cycle power plants and one windfarm.

These plants represent 80% of the total installed base Iberdrola owns in Mexico, out of the close to 11 gigawatts (GW) currently operating in the country. Iberdrola will only keep 1.1 GW in combined-cycle capacity, 1 GW in renewable energies and 200 megawatts in cogeneration plants. The Spanish group made clear its intentions to continue operating in Mexico and expects to increase its participation in the renewable energy market.

Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Plant Database can click here for a list of profiles of Iberdrola plants in Mexico.

Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).