Mexico maintains its hegemony over electricity generation.
At the beginning of April, the Mexican Government announced the purchase of 13 power generation plants from the transnational company Iberdrola. With an effective generation of 8.5GB, 12 are Combined Cycle and one is Wind.
The cost of the 13 plants will be 5 thousand 943 million dollars, equivalent to 696 thousand dollars per MW. The final cost is subject to verification by the State and verification of what the plants are producing and corresponding adjustments.
A memorandum of understanding has been signed where it is written that as of January 1, all revenue streams from the plants will accrue to the State, the seller will receive an annual interest rate of 3.6% for those streams until the purchase is closed.
The cost was approximated thanks to 3 methodologies involving advisors, lawyers and specialists.
- Discounted Dividends. $750 Thousand dollars per Mega.
- Comparable Negotiations in Latin America. $700,000 dollars per Mega.
- Specialized Analyst Valuation. $604 thousand dollars per Mega.
The transaction will be financed through the Fondo Nacional de Infraestructura, FONADIN. The Ministry of Finance will make a capital contribution of 45 billion pesos to FONADIN to give it the capacity to finance the purchase. With this financing, 51% of the capital at risk will be contributed. In addition to this financing, bank financing of 66,500 Million Pesos will also be requested to carry out this operation, which will be paid with the cash flows generated by the plants.
