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Sabadell sees US$300mn financing opportunity in Mexican renewables

Bnamericas

Banco Sabadell is analyzing US$300mn in financing opportunities as President Claudia Sheinbaum opens Mexico's renewable energy sector to private developers and investors.

In a press release on Tuesday, the Spanish bank's Mexican subsidiary said it wants to participate in several of the 18 wind and solar power projects that were awarded fast-track generation permits in December.

The tender was the first major opportunity for private-sector power developers to invest in Mexico since 2018, when former president Andrés Manuel López Obrador closed most of the country's energy sector to private investment.

Sheinbaum, who came to power in October 2024, has said she wants private companies to spearhead the expansion of renewable energy in Mexico.

"Mexico is facing a new era in the energy area," said Gustavo Martínez Baca, director of corporate and investment banking at Banco Sabadell México.

Sabadell said it has a portfolio of nearly US$1bn in energy and infrastructure projects in Mexico.

(The original version of this content was written in English)

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