Iberdrola closes the sale of 13 power plants to the Mexican Government

The Spanish energy company Iberdrola announced this Monday the sale of 13 power plants to the Mexican Government for an amount of 6.2 billion dollars.

The deal, which had been in the works for months, comes after the authorization of Mexico's antitrust body, which had imposed several conditions on the Executive of Andrés Manuel López Obrador in order to close the transaction.

The purchase of the power plants and a wind farm has cost the Government 200 million more than what was initially estimated.

The company announced the sale in a statement sent to the Spanish National Securities Market Commission signed by the general secretary and the Board of Directors of Iberdrola.

“Once authorization was received from the Federal Economic Competition Commission (Cofece) of Mexico and the remaining suspensive conditions agreed upon between the parties had been met, the sale has been closed,” the energy company said.

The transaction represents 55% of Iberdrola's business in Mexico.

The Undersecretary of the Treasury of Mexico, Gabriel Yorio, has confirmed to this newspaper the closure of the operation.

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