Mexico halts Canadian renewable energy arbitration request Grupo Milenio

he Mexican government He reported that Stopping the request for international arbitration Against the country in cases Renewable energy By Canadian investment funds Quebec Deposit and Deposit Fund (CDPQ) and CDP Group Infrastructure.

The claims were registered on December 15th International Center for Settlement of Investment Disputes (ICSID)of the World Bank, according to the organization’s website, and a summons Trans-Pacific and Progressive Partnership Agreement (TIPAT).

the The Ministry of Economy It stated in a statement that an agreement had been reached to “seek a satisfactory solution without the need to use the dispute settlement mechanism between investors and states,” according to the treaty. Tipat (Comprehensive and Progressive Agreement for Trans-Pacific Partnership).

He added that the claim was originally submitted by the two Canadian funds November 27 “On his own behalf and on behalf of some companies established in MexicoHis identity was not detailed, and he was not registered until the middle of this month.

The lawsuit concerned the “Electric Energy and Other Energies” sectors and was directed against the “Electric Energy and Other Energies” Company. General Administration for Legal Consultations for International Trade of the Mexican Secretariat, according to the International Center for Settlement of Investment Disputes (ICSID).

“the The Ministry of Economy renews its commitment to dialogue between companies to find a solution within those stipulated in the treaty,” concludes the statement issued by the government agency.

in 2015after the energy reform, when a consortium of Mexican investors was assembled CKD Infrastructure Mexico They agreed to establish a joint investment project for infrastructure projects in the country.

See also  G7 launches infrastructure plan to counter China's progress

in which CDPQ He wanted to invest about more than 17 billion pesos, which is the same amount Chronic kidney disease.

“We invest constructively to achieve long-term sustainable returns. “As a global investment group that manages public pension and insurance plan funds, we work together with our partners to create companies that drive performance and progress.” Background description.

“We are active in major financial markets, private equity, infrastructure, real estate and private debt. CDPQ's net assets reached C$424 billion,” he added.

During his term, which began in 2018 and ends in 2024, as president

Andrés Manuel Lopez Obrador

He encouraged legal changes to benefit the state

Federal Electricity Commission (CFE),

Which gives it superiority over foreign and renewable energy companies, some of which are from

Canada

.

In response to the concerns of Canadian renewable energy companies, Lopez Obrador In January, I spoke about the matter with the Prime Minister of the North American country, Justin Trudeau During a meeting in the Mexican capitalHe later received representatives of several companies from that country.

An official familiar with the matter then said that the companies involved were the pension fund Deposit and Deposit Fund of Quebec (CDPQ)ATCO Ltd ACOx.TO, Northland Power and Canadian Solar Inc CSIQ.O.

Canada and the United States They also requested consultations in July 2022 on resolving the dispute with Mexico, arguing that Lopez Obrador's nationalist energy policies violate the North American Trade Agreement. TMEC.

MRA

Aileen Morales

"Beer nerd. Food fanatic. Alcohol scholar. Tv practitioner. Writer. Troublemaker. Falls down a lot."

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top