Canada ‘Concerned’ Mexico Electricity Law Will Harm Investments
- $4.1 billion in Canadian assets could be stranded: official
- Move puts Mexico at odds with U.S., Canada on climate change
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Prime Minister Justin Trudeau’s government is worried that a recently amended electricity law in Mexico will harm Canadian investments in the country’s clean energy sector.
Mexico’s legislature has recently passed a bill proposed by nationalist President Andres Manuel Lopez Obrador to strengthen state power company Comision Federal de Electricidad, or CFE, at the expense of the private sector. While the legislation has currently been halted by a Mexican court, its implementation could leave as much as $4.1 billion in Canadian assets at risk in the Latin American country, according to a Canadian government official who wasn’t authorized to speak publicly on the matter.