OTPP and PSP’s Cubico holds on in Latin America

13 December 2019 - 12:00 am UTC

Mexico’s AMLO administration has created turmoil among foreign energy investors this year. Cubico, owned by two Canadian pension funds, is looking to corporate PPAs and a new office and platform in Colombia as avenues for growth, reports Jonathan Carmody

The leftist administration of Mexican President Andres Manuel Lopez Obrador (AMLO) is swimming against a rising tide of lawsuits from foreign energy companies.

At least 18 injunctions have been filed in Mexican courts, according to reports at the end of November, contesting a decision by the energy ministry SENER to re-write the rules on bankable clean energy incentives, or CELs.

According to an estimate from the Mexican Association of Wind Energy (AMDEE), which has presented a challenge itself, legal actions could eventually cover up to 80% of new clean energy projects under development there.

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