BBVA, Santander, BofA Want to Back AMLO’s $6 Billion Power Deal
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- Renewable energy projects may now get clearance, people said
The Iberdrola logo on hydrogen storage tanks during the final stages of construction at Iberdola SA's Puertollano green hydrogen plant in Puertollano, Spain, on Thursday, May 19, 2022.
Photographer: Angel Garcia/BloombergBanco Bilbao Vizcaya Argentaria, Banco Santander SA and Bank of America Corp. are lining up to finance Mexico’s deal to purchase power plants from Spain’s Iberdrola for $6 billion, according to people familiar with the talks.
The three lenders are among a group that has expressed interest in financing the deal, the people said, who asked not to be named as they are not authorized to discuss a private matter. The discussions are in an early stage, the people said, and the deal is also luring interest from local banks including Grupo Financiero Banorte and billionaire Carlos Slim’s Grupo Financiero Inbursa. Mexican development banks including Banobras are also going to help fund the deal, the people added.