Advanced Search

LatinNews Daily - 25 February 2021

Click here for printer friendly version
Click here for full report

In brief: Iberdrola’s CEO responds to Mexican electricity reform bill

* Ignacio Sánchez Galán, the CEO of Spanish energy firm Iberdrola, has said that if Mexico's electricity reform affects the company’s shareholders, “pertinent measures” will be analysed and adopted. The electricity reform bill that is currently being debated by Mexico's congress prioritises the purchase of electricity produced by the state-run electricity firm Comisión Federal de Electricidad (CFE) at its hydroelectric and electricity generation plants that run on fossil fuels over renewable electricity produced by private generators. It was passed by the federal lower chamber on 23 February and is currently in the federal senate. Currently, Iberdrola México, a sub-holding affiliate of Iberdrola Group, has an installed capacity in Mexico of more than 10,000 Megawatts (MW) at 16 combined-cycle and cogeneration plants, 588 MW at six wind farms, and 279 MW at two solar farms, with presence in 13 Mexican states. According to Iberdrola in 2019, 16% of Mexico’s energy was generated by Iberdrola México, whose installed capacity accounts for 12% of the country’s total power, or 25% of the power produced by private companies. It ranks fourth as a private renewable electricity generator in the country.