Iberdrola has completed the sale of 55 percent of its Mexican business for about $6.2 billion (5.7 billion euros), a deal that includes the transfer of 13 power plants with an installed capacity of 8,539 MW. Of this total, 99 percent corresponds to gas-fired combined cycles and 87 percent to plants operating under the Independent Power Producer regime, contracted with the Federal Electricity Commission (CFE).
Specifically, the sale covers the gas-fired combined cycles operating under the Independent Power Producers regime and contracted with the CFE, including Monterrey I and II with 449 MW, Altamira III and IV with 1,096 MW, Altamira V with 1,155 MW, Escobedo with 878 MW, La Laguna with 537 MW, Tamazunchale I with 1,179 MW, Baja California with 324 MW, Topolobampo II with 917 MW, and Topolobampo III with 766 MW, along with the La Venta III wind asset at 103 MW, which together amount to 87 percent of the total divested installed capacity. Also included are the private gas-fired cycles Monterrey III and IV with 477 MW, Tamazunchale II with 514 MW, and Enertek with 144 MW.
The more than 460 employees of these facilities will also become part of the trust led and managed by MIP (Mexico Infrastructure Partners).
This represents 55 percent of the country’s EBITDA, including associated contracts and the jobs linked to the operation. Subsequently, Iberdrola will retain 15 plants, all its activity with private clients, and its renewable project portfolio to continue growing wind and solar assets in the country in the coming years.
The divestment was finalized in accordance with the terms agreed last June and aligns with the group’s strategy, contributing to its decarbonization commitments.
The operation received financing support from the National Infrastructure Fund of Mexico (Fonadin), other publicly linked financial entities to the Mexican government, and private financial institutions.
Iberdrola maintains a portfolio of more than 6,000 MW of renewable projects in the country, of which more than 2,000 MW will be developed over the next five years, ensuring energy for private clients and advancing the country’s renewable development. This will be essential to seize the opportunities offered by partnerships with the United States.
[Source attribution: Iberdrola press materials and related market disclosures]