— Pillar · Madrid–Mexico
Madrid–Mexico Advisory
Capital flows, transactions and regulatory frameworks between Spain and Mexico: how cross-border investment in energy and infrastructure is structured, financed and executed.
What this pillar covers
- Spanish energy companies in Mexico and Latin America
- Portfolio rotation and divestitures
- Cross-border investment structures and tax
- Energy in Spain: gas, nuclear and security of supply
- Madrid as a hub for Latin American capital
Analysis
- — Madrid Cross-BorderSpanish capital is not leaving Mexican generation: it is changing hands — and risk profileBetween February 2024 and April 2026 Iberdrola sold its entire Mexican generation fleet for US$10.2bn: 13 plants to the state (MIP/Fonadin) and the remainder to Cox, a mid-sized group buying on leverage. What changes for investors, lenders and industrial offtakers when the same asset moves from an integrated utility's balance sheet to a debt-funded structure.
- — Madrid Cross-BorderData centres: Spain ties grid access to 80% renewable power, hour by hourThe draft royal decree put to public consultation on 27 August requires data centres of 1 MW or more to cover 80% of their consumption, in every hour, with Spanish renewable plants commissioned within the previous 18 months, under surcharges of 10% to 500% and loss of the permit after five years. It is stricter than the EU's own hydrogen rules and reaches permits already granted. Consultation closes on 10 September.
Other pillars
- Mexico EnergyProduction, natural gas, Pemex, CFE, regulation and private participation in Mexico's energy sector, analysed from the standpoint of capital at risk and of those who operate assets.
- Private Capital and Latin American EnergyOpenness to private capital, contract models, mature fields and project financing in Latin American oil & gas and energy, compared jurisdiction by jurisdiction.