Iberdrola sells more than 8.5GW of assets in Mexico
Iberdrola has agreed to sell more than 8.5GW of assets it operates in Mexico, in a transaction valued at around $6 billion.
The Spanish energy giant signed a memorandum of understanding with Mexican fund manager Mexico Infrastructure Partners (MIP) for the sale of 8,538MW of installed capacity.
The fund manager is being supported financially by the National Infrastructure Fund of Mexico (Fonadin) and other public financial entities associated with the government of Mexico.
The assets will also be operated by Mexico’s Comisión Federal de Electricidad (CFE).
The portfolio sold consists of 12 combined-cycle and co-generation power plants totaling 8,436MW and one wind project with an installed capacity of 103MW. The assets are located across the states of Tamaulipas, Nuevo León, Durango, San Luis Potosí, Baja California, Sinaloa and Oaxaca.
Assets included in the transaction are:
Monterrey I and II
Monterrey III and IV
Altamira III and IV
La Venta III (wind)
In Mexico, Iberdrola operates more than 9.3GW of gas-fired assets, and it has another 515MW under construction. The utility manages an additional 1,163MW in wind and solar assets.
The company will remain active in Mexico, including by entering power purchase agreements with assets sold in the transaction, to support its focus on renewable energy generation development in the country.