Acciona Energía Reviews Mexico Renewable Pipeline

Image: Acciona

According to Spanish financial newspaper Expansión, Acciona Energía — the renewable energy arm of Acciona — has begun a comprehensive review of its assets and projects in Mexico. This move aligns with similar strategic shifts from other major Spanish energy players in the country and reflects broader adjustments in corporate strategies across the renewable sector.

The company is reportedly evaluating its entire Mexican portfolio, which includes both operating assets and projects under development. The review forms part of Acciona’s global asset rotation strategy and signals a period of strategic assessment regarding the future of its operations in one of its most important international markets outside of Spain.

In Mexico, Acciona Energía operates around 1,500 MW of installed capacity, spanning both wind and solar — representing approximately 8% of its total international portfolio. Of this, 1,076 MW are wind assets (some still under construction), while 405 MW belong to the Puerto Libertad solar plant in Sonora.

While Acciona has maintained steady installed capacity in the country over the past year, its investments in Mexico have stalled in the first half of 2025 — a notable shift compared to the nearly €6 million (~$7 million) invested during the same period last year. Despite the pause in new investment, the company’s electricity generation in Mexico rose by 18%, from 1,272 GWh to 1,509 GWh year-over-year. Mexico remains Acciona Energía’s fourth-largest international market, after Spain, the United States, and Australia.

The decision to reevaluate the company’s position comes amid major realignments in Mexico’s energy landscape. Iberdrola, another Spanish energy giant, recently completed the sale of all its Mexican assets to Grupo Cox in a deal valued at $4.2 billion, effectively marking its exit from the country after 26 years. The transaction included 15 power plants totaling 2.6 GW of capacity — spanning conventional and renewable generation — as well as development projects and commercial operations.

Iberdrola’s departure followed years of regulatory changes and increasing operational challenges for some international players. The company has since shifted its focus to more stable investment environments such as the United States and the United Kingdom.

Unlike Iberdrola, Acciona Energía has maintained a purely renewable footprint in Mexico and has consistently focused on clean technologies. The company also operates in other sectors across the country, including infrastructure and water treatment, though these divisions are not part of the current portfolio review.