Iberdrola closes the sale of 55 per cent of its business in Mexico

• a month ago (2024-02-28)
• David Flin

Gas 371 North America 998

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Iberdrola has closed the sale of 55 per cent of its business in Mexico for around $6.2 billion. The transaction includes the sale of 13 generation plants with a combined installed capacity of 8539 MW.

Of these, 10 plants are contracted to the Comisión Federal de Electricidad (CFE) under the IPP regime. These plants are:

• Monterrey I and II: 449 MW
• Altamira III and IV: 1096 MW
• Altamira V: 1155 MW
• Escobedo: 878 MW
• La Laguna; 537 MW
• Tamazunchale I: 1179 MW
• Baja California: 342 MW
• Topolobampo II: 917 MW
• Topolobampo III: 766 MW
• La Venta III wind farm: 103 MW

In addition, the sale also includes the private CCGT plants of Monterrey III and IV (477 MW), Tamazunchale II (514 MW), and Enertek (144 MW).

The divestment is equivalent to 55 per cent of Iberdrola’s gross operating profit in the country. Iberdrola will retain 15 plants, all of its private customers, and its portfolio of renewable energy projects and pipeline to continue increasing its wind and solar assets in the country.