United Mexican States／Loan Insurance for Supporting Exports of Gas Turbines and Power Generations to Comisión Federal de Electricidad Group

Nippon Export and Investment Insurance (NEXI; Chairman and CEO: Atsuo Kuroda) has decided to provide insurance for loans to support the purchases of key equipment, including gas turbines and power generators to be installed in natural gas-fired combined cycle power plants in Salamanca, Guanajuato, Mexico and Villa de Reyes, San Luis Potosí, Mexico, both 2 plants being developed by Comisión Federal de Electricidad (hereinafter referred to as “CFE”), a state-owned electric utility of Mexico, through its group companies.

The exports are handled by Mitsubishi Power Americas, Inc. and Mitsubishi Power de Mexico, S.A. de C.V., wholly owned subsidiaries of Mitsubishi Heavy Industries, Ltd. Each loan is concluded with Citibank, N.A., Tokyo Branch and Japan Bank for International Cooperation (JBIC) acting as lenders, with Banco Nacional de Comercio Exterior, as borrower, acting as trustee of the trust established by CFE. NEXI will provide insurance for the loans provided by Citibank, N.A. Tokyo Branch.

The Mexican government has committed to reducing greenhouse gas (GHG) emissions by 35% by 2030 compared to the business-as-usual baseline, as part of its Nationally Determined Contributions (NDC) under the Paris Agreement. As such, the plants align with the government's policy of the replacement of high-carbon fuels with natural gas in high-efficiency power plants.

As a financial institution implementing Japan’s policy, NEXI will continue to support Japanese exports.

Contact: Power Group, Structured and Trade Finance Insurance Department
Tel: +81-(0)3-3512-7340