Santander earmarks US$5bn for Mexico energy projects - report

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Thursday, August 14, 2014

In the wake of the energy reforms, Grupo Financiero Santander earmarked 65bn pesos (US$4.9bn) to be invested in energy infrastructure projects in Mexico, principally with state utility CFE and oil firm Pemex, according to media reports.

The bank, together with both firms, has participated in the financing of six energy infrastructure projects over the last 12 months, according to El Financiero newspaper.

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"Santander México is currently participating in 20 energy projects, with a combined capacity of more than 2,800MW," according to the report.

Mexico's economy is maturing as a result of the country's structural reforms, Grupo Santander México's executive president Marcos Martínez Gavica was quoted as saying.

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