Home Feature Iberdrola cancels energy project and another investment in Mexico goes up in smoke.

Iberdrola cancels energy project and another investment in Mexico goes up in smoke.

by Yucatan Times
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The Spanish company Iberdrola’s decision to cancel the project for a new combined-cycle thermal power plant in Tuxpan is because the CFE denied it the gas supply, which is necessary to advance the project.

MEXICO CITY (Reforma) – The Spanish company Iberdrola’s project represented the generation of 2,000 jobs for the region, in addition to an investment of 1.2 billion dollars, which considerably affects the construction sector.

The mayor of Tuxpan, Juan Antonio Aguilar, regretted the cancellation of the project and said that the consortium made the decision based on disagreements with the Federal Electricity Commission (CFE) and the new policy of the Government of Mexico in energy matters.

Recently Andrés Manuel López Obrador attacked the Spanish companies in the energy sector. He accused them of “charging very high prices,” accused them of orchestrating a “plan against his government” and added that “they were in collusion with the authorities to destroy the Federal Electricity Commission (CFE), the nation’s public company”.

Added to this cancellation, is what happened to the Constellations Brands brewery in Mexicali, which in last March, through a “popular consultation” AMLO determined to deny it permits for its operation, throwing away an investment of larger than a billion dollars and the creation of thousands of direct and indirect jobs.

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