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Director leaves Hive Energy in Mexico

A senior executive at solar developer Hive Energy has left, as the firm prepares to exit the Mexican market. 

Bernardo Fernández, who had been a director and head of project development for Mexico, Central America and the Caribbean at Hive, left the firm on April 12.

His departure comes after the company decided to close its Mexico office and sell its remaining development-stage projects. 

Fernández had been with the sponsor since October 2015. He had moved to Mexico City two years earlier to join Abengoa’s subsidiary Abeinsa Business Development, where he had been a business development director for Central America and the Caribbean. 

Before moving to Mexico, Fernández had worked with Acciona for five years, first based out of Madrid and later Santiago. 

Like Hive, other sponsors have also decided to leave Mexico given the recent policy changes enacted by that country's administration which are detrimental to private sector initiatives and renewable energy projects. 

Solar Century, for instance, has also called it quits, as previously reported (PFR, 3/18).

But while some companies are leaving, other investors are cautiously scouting the market in search of M&A opportunities ahead of the country's midterm elections.