Iberdrola Mexico and Mexico Infrastructure Partners (MIP) signed a binding agreement whereby the trust led and managed by MIP acquires 55 percent of Iberdrola's gross operating profit (EBITDA) in the country.
The agreed value of the sale is approximately $6 billion.
Iberdrola will keep 13 plants, all its activity with private customers and its portfolio of renewable projects to continue increasing its wind and solar assets in the country in the coming years.
The combined cycle gas plants, operating under the Independent Power Producer regime contracted with the Federal Electricity Commission (CFE), are Monterrey I and II (449 megawatts [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) and Topolobampo III (766 MW). Also included is the La Venta III (103 MW) wind farm. In total, these contracted assets account for 87 perc