The accord covers joint projects in both renewable and conventional power generation, electricity transmission and distribution, and natural gas storage. Iberdrola will also transfer  technology, and best-practice management policies and practices.

Iberdrola is already the largest private sector electricity generator in Mexico with more than 5.2GW in operating nameplate capacity – wind farms and combined cycle natural gas-fired plants.

The pact was signed by Iberdrola chief executive Ignacio Galan and CFE Managing Director Enrique Ochoa Reza.

Galan