We really believe that tender mechanisms and the energy reform have been very positive for the development of renewable energies in Mexico.
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In order to secure the participation of the private sector in the future development of the generation infrastructure no changes should be made to the existing regulation; growth should be obtained via wholesale energy market consolidation.
Given that we can invest both directly or through our platforms and jointly with our investors, we can be quite flexible from an equity check perspective. We do both greenfield and brownfield, obviously seeking different returns.
Since the beginning of the market 4 years ago, investors and market participants have needed more data in order to accurately forecast prices and quantify risks.
We choose to regard the cancellation as an opportunity. It forced us to review /reset our business strategy to become less dependent on governmental decisions.
The cancellation of the auctions has complicated the possibility of signing long-term contracts with a qualified offtaker that make the project bankable.
Current clean energy technologies are (often) bankable and even competitive nowadays compared to grey projects. This means investors should (and they do) invest in these projects.
I see, at this point in time, corporates leading the transition to a low carbon economy -with the right policies and incentives by governments, investors building climate-resilient portfolios and consumers using their purchasing power.