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Banobras identifies financing opportunities in Mexican energy sector

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Banobras identifies financing opportunities in Mexican energy sector

Banco Nacional de Obras y Servicios Públicos SNC, or Banobras, could provide 15.50 billion Mexican pesos in financing this year to 19 energy projects the bank has identified, El Economista reported.

Alfredo Vara, the development bank's director general, said the majority of the projects are related to green energy. They include five wind farms, four gas pipelines, two oil pipelines, and seven solar parks and hydroelectric plants, the publication reported.

Speaking at an energy conference in Mexico, the executive said Banobras has disbursed 36 billion pesos for green energy projects since the government announced a reform for the Mexican energy sector. The reform has created investment opportunities of around 82.24 billion pesos in the energy sector, he noted.

As of Jan. 31, US$1 was equivalent to 18.60 Mexican pesos.