Iberdrola to Advance Renewable Energy Projects in Mexico

• The statement about the MoU signed in between both companies was made by Executive Chairman of Iberdrola, Ignacio Galán and also the President of the Government of Mexico, Andrés Manuel López Obrador.

Iberdrola Mexico and Mexico Infrastructure Partners (MIP) have actually joined hands to give a press to renewable energy in Mexico.

Iberdrola is a Spanish multinational electric energy firm. MIP is an independent Mexican fund supervisor of alternative investment vehicles, such as promotion of power as well as infrastructure in Mexico.

The announcement regarding the MoU signed between both companies was made by Executive Chairman of Iberdrola, Ignacio Galán and also the President of the Government of Mexico, Andrés Manuel López Obrador.

The Government of Mexico will back up to the procedures on renewable energy. This will be done by offering financial backing from the National Infrastructure Fund of Mexico (Fonadin) in addition to other public economic entities.

Iberdrola keeps that with participation from the Federal Government, it would even more develop its leadership as the main exclusive generator of renewable energy. It will get catalyst to continue to run properties under market problems while giving support to energy shift in Mexico.

Obrador stated, "The agreement gotten to with Iberdrola, which enables progression in the application of Mexico's new energy policy, represents the beginning of a brand-new stage in which the company will actively take part in the sustainable development of the country"

Galan stated, "Iberdrola appreciates the support as well as flexibility shown by the Government of Mexico to reach this agreement, while taking into consideration Mexico a calculated country with possibility for growth as well as development where it will show its support to Mexico and the State by establishing sustainable capacity."

Iberdrola just recently tattooed its largest ever power acquiring agreement (PPA) under which it will certainly develop large-scale renewable energy projects along with Amazon.