Iberdrola CEO Sees Mexico Facing Lawsuits Over Electricity Law
- Spain’s top power company may take Mexico to court, CEO says
- ‘I imagine everybody is going to do something similar’
Jose Ignacio Sanchez Galan
Photographer: Jason Alden/BloombergThis article is for subscribers only.
The chief of Spain’s biggest power company expects Mexico to face a flurry of lawsuits over its controversial new electricity law, which prioritizes the state-owned utility above privately-owned renewable projects.
If Iberdrola SA’s lawyers see “that the law affects our existing business, I’m sure we’ll try to defend the interest of our shareholders as we do in all countries,” Chief Executive Officer Jose Ignacio Sanchez Galan said in an interview. “I imagine everybody is going to do something similar.”