Iberdrola completed the sale of 55% of its business in Mexico

Iberdrola has closed the sale of 55% of its business in Mexico for around US$6.2 billion. The transaction includes the sale of 13 generation plants with an installed capacity of 8,539 MW. 

Around 99% of the plants are gas-fired combined cycle power stations, with 87% operating under the Independent Power Producer regime, contracted with the CFE.

Specifically, the plants included that operate contracted to the CFE under the regime of Independent Power Producers are:

• Monterrey I and II: 449 MW
• Altamira III and IV: 1,096 MW
• Altamira V: 1,155 MW
• Escobedo: 878 MW
• La Laguna: 537 MW
• Tamazunchale I: 1,179 MW
• Baja California: 324MW
• Topolobampo II: 917 MW 
• Topolobampo III: 766 MW
• La Venta III wind farm: 103 MW

Additionally, the sale also includes the private combined cycle gas plants of Monterrey III and IV (477 MW), Tamazunchale II (514 MW) and Enertek (144 MW).  

The 460 employees working at these facilities will become part of the trust led and managed by MIP (Mexico Infrastructure Partners). The transaction, which mainly includes gas-fired power plants, closes on the agreed terms after obtaining the necessary regulatory authorizations and approvals