Iberdrola Mexico and Mexico Infrastructure Partners (MIP) have signed an memorandum of understanding to advance the development of renewable energy in the country.
Executive chairman of Iberdrola, Ignacio Galán (pictured: right) and the President of the Government of Mexico, Andrés Manuel López Obrador (pictured: left) met to announce the beginning of this new phase.
The operation will have the support of the Government of Mexico through the financial support of the National Infrastructure Fund of Mexico (Fonadin) and other public financial entities.
Iberdrola said it would reaffirm its leadership as the main private generator of renewable energy with the support of the Federal Government by continuing operating its assets under market conditions and supporting the energy transition in the country.
In addition, Iberdrola Mexico will continue to serve its current customers and both parties will work together to try to resolve the differences of disputes opened in the country in recent years.
Obrador said: “The agreement reached with Iberdrola, which allows progress in the implementation of Mexico’s new energy policy, represents the beginning of a new stage in which the company will actively participate in the renewable development of the country”
Galan added: “Iberdrola appreciates thesupport and flexibility shown by the Government of Mexico to reach this agreement, while considering Mexico a strategic country with potential for growth and expansion where it will show its support to Mexico and the State by developing renewable capacity.”