• Home
  • Politics
  • Health
  • World
  • Business
  • Finance
  • Tech
  • More
    • Sports
    • Entertainment
    • Lifestyle
What's Hot

Microsoft Bans Employees From Using ‘Chinese Propaganda’ Chatbot

May 9, 2025

How Smart Mattresses Improve Sleep Quality For Couples

May 9, 2025

OpenAI CEO Warns: ‘Not A Huge Amount Of Time’ Until China Overpowers American AI

May 9, 2025
Facebook Twitter Instagram
  • Contact
  • Privacy Policy
  • Terms & Conditions
Friday, May 9
Patriot Now NewsPatriot Now News
  • Home
  • Politics

    Security video shows brazen sexual assault of California woman by homeless man

    October 24, 2023

    Woman makes disturbing discovery after her boyfriend chases away home intruder who stabbed him

    October 24, 2023

    Poll finds Americans overwhelmingly support Israel’s war on Hamas, but younger Americans defend Hamas

    October 24, 2023

    Off-duty pilot charged with 83 counts of attempted murder after allegedly trying to shut off engines midflight on Alaska Airlines

    October 23, 2023

    Leaked audio of Shelia Jackson Lee abusively cursing staffer

    October 22, 2023
  • Health

    Disparities In Cataract Care Are A Sorry Sight

    October 16, 2023

    Vaccine Stocks—Including Pfizer, Moderna, BioNTech And Novavax—Slide Amid Plummeting Demand

    October 16, 2023

    Long-term steroid use should be a last resort

    October 16, 2023

    Rite Aid Files For Bankruptcy With More ‘Underperforming Stores’ To Close

    October 16, 2023

    Who’s Still Dying From Complications Related To Covid-19?

    October 16, 2023
  • World

    New York Democrat Dan Goldman Accuses ‘Conservatives in the South’ of Holding Rallies with ‘Swastikas’

    October 13, 2023

    IDF Ret. Major General Describes Rushing to Save Son, Granddaughter During Hamas Invasion

    October 13, 2023

    Black Lives Matter Group Deletes Tweet Showing Support for Hamas 

    October 13, 2023

    AOC Denounces NYC Rally Cheering Hamas Terrorism: ‘Unacceptable’

    October 13, 2023

    L.A. Prosecutors Call Out Soros-Backed Gascón for Silence on Israel

    October 13, 2023
  • Business

    Microsoft Bans Employees From Using ‘Chinese Propaganda’ Chatbot

    May 9, 2025

    OpenAI CEO Warns: ‘Not A Huge Amount Of Time’ Until China Overpowers American AI

    May 9, 2025

    Trump Announces First Post-Tariff Trade Deal

    May 8, 2025

    Electric Vehicle Sales Nosedive As GOP Takes Buzzsaw To Biden’s Mandate

    May 7, 2025

    Tyson Foods Announces It Will Bend The Knee To Trump Admin’s New Rules

    May 7, 2025
  • Finance

    Ending China’s De Minimis Exception Brings 3 Benefits for Americans

    April 17, 2025

    The Trump Tariff Shock Should Push Indonesia to Reform Its Economy

    April 17, 2025

    Tariff Talks an Opportunity to Reinvigorate the Japan-US Alliance

    April 17, 2025

    How China’s Companies Are Responding to the US Trade War

    April 16, 2025

    The US Flip-flop Over H20 Chip Restrictions 

    April 16, 2025
  • Tech

    Cruz Confronts Zuckerberg on Pointless Warning for Child Porn Searches

    February 2, 2024

    FTX Abandons Plans to Relaunch Crypto Exchange, Commits to Full Repayment of Customers and Creditors

    February 2, 2024

    Elon Musk Proposes Tesla Reincorporates in Texas After Delaware Judge Voids Pay Package

    February 2, 2024

    Tesla’s Elon Musk Tops Disney’s Bob Iger as Most Overrated Chief Executive

    February 2, 2024

    Mark Zuckerberg’s Wealth Grew $84 Billion in 2023 as Pedophiles Target Children on Facebook, Instagram

    February 2, 2024
  • More
    • Sports
    • Entertainment
    • Lifestyle
Patriot Now NewsPatriot Now News
Home»Business»Iberdrola aims for US subsidies after Mexican asset sale
Business

Iberdrola aims for US subsidies after Mexican asset sale

April 6, 2023No Comments2 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter LinkedIn Pinterest Email

MADRID, April 5 (Reuters) – Spanish power company Iberdrola (IBE.MC) will seek to expand in the United States and take advantage of its green subsidies after announcing the sale of gas assets worth $6 billion in Mexico, Chief Financial Officer Jose Sainz said on Wednesday.

The sale significantly reduces the renewable energy giant’s exposure to Mexico, where its relationship with the government has been fraught, and gives it an opportunity to speed up growth north of the border.

“The United States is the country that brings more opportunities in the medium and long term,” Sainz told analysts in a conference call, referring to a massive package of subsidies included in the U.S. Inflation Reduction Act.

“Due to IRA, we will probably review our renewable plans in the U.S.,” he said, adding that the Mexican sale could also allow acquisitions.

Mexico remains a core market for the company, which aims to grow its renewables operations there, he added.

The sale is also expected to improve the company’s relationship with the Mexican government as most of the country’s regulatory problems are linked to the assets being sold, Sainz said.

“We are now almost free of any problem with the Mexican government,” he said.

Mexico’s president hailed his government’s purchase of 13 power plants from Iberdrola as a “new nationalisation” that will increase state control.

For Iberdrola, RBC analyst Fernando Garcia said in a research note it “got rid of the Mexican headache”.

The company “had significant problems with Mexican regulators and in our view, given that the valuation looks decent, it looks like a good deal for the company to deploy this cash in other areas,” Garcia said.

See also  BlackRock To Make Massive Infrastructure Move To ‘Decarbonize The World’ And Reap Government Subsidies

Iberdrola shares were up 2% in morning trade.

Sainz confirmed the profit target for 2025 of between 5.2 billion euros ($5.69 billion) and 5.4 billion euros, up from last year’s 4.3 billion, and said the dividend policy was unlikely to change much.

($1 = 0.9132 euros)

Reporting by Pietro Lombardi, Editing by Andrei Khalip and Barbara Lewis

: .

aims asset Iberdrola Mexican Sale Subsidies
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Microsoft Bans Employees From Using ‘Chinese Propaganda’ Chatbot

May 9, 2025

OpenAI CEO Warns: ‘Not A Huge Amount Of Time’ Until China Overpowers American AI

May 9, 2025

Trump Announces First Post-Tariff Trade Deal

May 8, 2025

Electric Vehicle Sales Nosedive As GOP Takes Buzzsaw To Biden’s Mandate

May 7, 2025
Add A Comment

Leave A Reply Cancel Reply

Top Posts

Organized Labor Is Causing ‘Union Joe’ Biden A Lot Of Headaches

July 27, 2023

MSFT, CMG, BA, FRC more

April 26, 2023

5 Tips To Aging Well

May 6, 2024

Tennis Fans In DC Warned That Ukraine’s Svitolina And Belarus’ Azarenka Won’t Shake Hands

August 1, 2023
Don't Miss

Microsoft Bans Employees From Using ‘Chinese Propaganda’ Chatbot

Business May 9, 2025

Microsoft has banned employees from using DeepSeek — the viral Chinese chatbot it worries is…

How Smart Mattresses Improve Sleep Quality For Couples

May 9, 2025

OpenAI CEO Warns: ‘Not A Huge Amount Of Time’ Until China Overpowers American AI

May 9, 2025

Short and Funny Sayings for a Happy Summer with Friends

May 9, 2025
About
About

This is your World, Tech, Health, Entertainment and Sports website. We provide the latest breaking news straight from the News industry.

We're social. Connect with us:

Facebook Twitter Instagram Pinterest
Categories
  • Business (4,112)
  • Entertainment (4,220)
  • Finance (3,202)
  • Health (1,938)
  • Lifestyle (1,628)
  • Politics (3,084)
  • Sports (4,036)
  • Tech (2,006)
  • Uncategorized (4)
  • World (3,944)
Our Picks

How Therapy Can Improve Your Connections

March 23, 2024

E. Jean Carroll Wins Again As Federal Judge Finds Trump Made Libelous Statements

September 6, 2023

US retail sales rise moderately; economy plodding along

July 19, 2023
Popular Posts

Microsoft Bans Employees From Using ‘Chinese Propaganda’ Chatbot

May 9, 2025

How Smart Mattresses Improve Sleep Quality For Couples

May 9, 2025

OpenAI CEO Warns: ‘Not A Huge Amount Of Time’ Until China Overpowers American AI

May 9, 2025
© 2025 Patriotnownews.com - All rights reserved.
  • Contact
  • Privacy Policy
  • Terms & Conditions

Type above and press Enter to search. Press Esc to cancel.