June 11, 2019 |
Loan volumes for energy projects in Mexico could plunge 70% this year as the government postpones renewable power auctions and Pemex's woes boost corporate borrowing costs, LatinFinance has heard.
"The government has halted auctions in the renewables market and there is a lot of negative news from the downgrade to Pemex," said a loans banker in Europe. "Compared to last year, energy loan issuance could fall 70%," he added.
The government cancelled a clean energy auction in December last year,
Pemex downgrade and cancelled energy auctions could cause the market to fall 70% this year, source says