Mexico is worrying the Caisse de depot

Mexico is worrying the Caisse de depot

The Caisse de depot met with Mexico’s president this week in hopes of resolving issues arising from the country’s nationalist energy policies.

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The institution confirmed to the Journal yesterday that the meeting would be held, but declined to say more.

big investment

In 2017, the Caisse paid out approximately $675 million to acquire interests in eight wind and solar power plants in Mexico.

However, the country’s president, Andrés Manuel López Obrador, wants to push through a reform that would give priority to the Comisión Federal de Electricidad, a state-owned company, at the expense of private companies in the development of the electricity sector.

During a visit to Mexico last week, Prime Minister Justin Trudeau raised the issue with his Mexican counterpart. Andrés Manuel López Obrador then promised to meet with representatives of the Caisse de depot et Placement and three Canadian energy companies based in Mexico.

“We met with four Canadian companies and resolved the four issues without any obstacles,” Mr. López Obrador assured at a news conference, according to Portal.

skepticism

However, Mexican officials and representatives of the energy sector told the news agency that they were skeptical about the real solution to the problems.

Last year, the United States launched a process to challenge Mexico’s energy decisions, saying they may violate the North American Free Trade Agreement.

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