Mexico and Spain Revive Energy Ties After Years of Friction
MEXICO · BUSINESS
Key Facts
—The meeting: Mexico’s energy secretary and Spain’s economy minister met in Mexico City to restart cooperation on energy and investment.
—The focus: Talks centered on renewables and the energy transition, with technical visits, demonstration projects and joint working groups planned.
—Who took part: The heads of state firms Pemex and CFE joined the talks.
—The thaw: Ties had soured under former president López Obrador, whose energy policy pushed Spain’s Iberdrola to sell most of its Mexican assets.
—The backdrop: The visit follows a modernized EU-Mexico trade agreement signed on May 22.
After years of legal battles and political friction over energy, Mexico and Spain are trying to turn the page, with clean power as the common ground and a fresh EU trade deal as the opening.
A reset built on energy cooperation
Senior officials from Mexico and Spain have moved to revive energy cooperation after years of friction. Mexico’s energy secretary, Luz Elena González Escobar, met Spain’s economy minister, Carlos Cuerpo, in Mexico City to exchange views on energy, investment and development, and to identify new areas of collaboration between the two countries.
According to Mexico’s energy ministry, the two sides explored expanding technical cooperation through specialized visits, demonstration projects and working groups focused on sharing knowledge in renewables and the energy transition. The chief executives of Mexico’s state-owned firms, oil company Pemex and electricity utility CFE, also took part.
The friction they are leaving behind
The meeting marks a notable thaw. Relations had cooled sharply under former president Andrés Manuel López Obrador, whose nationalist energy policy favored state firms and triggered a long legal fight with private players. That climate culminated in Spanish giant Iberdrola selling off most of its assets in Mexico.
Under President Claudia Sheinbaum, Mexico has kept a strong role for the state but opened a clearer, rules-based channel for private and foreign investment in power generation, including a large pipeline of renewable projects. That shift creates room for the kind of cooperation Spain is now pursuing.
The EU trade deal behind the timing
The timing is not accidental. The visit comes only weeks after the signing, on May 22, of a modernized Global Agreement between the European Union and Mexico, a framework that broadens cooperation well beyond trade. Madrid wants to position itself as one of Mexico’s main partners to capture the investment opportunities that deal opens.
Spain has framed the outreach as a response to a volatile global environment, arguing that geopolitical tensions and the reshaping of supply chains make it worth deepening alliances with reliable partners. Energy, infrastructure, financial services and the digital economy were all flagged as priority areas.
A meeting overshadowed by protests
There was a logistical hitch that underscored the moment’s domestic backdrop: a planned meeting between Sheinbaum and Cuerpo had to be held virtually because teachers’ protests in central Mexico City prevented the Spanish delegation from reaching the National Palace. The disruption was a reminder of the social tensions playing out in the capital in the run-up to the 2026 World Cup.
For both governments, though, the substance was the signal: an attempt to rebuild a relationship that had frayed, with clean energy as the bridge. Whether it translates into concrete projects will be the test of how durable the reset proves.
Frequently Asked Questions
What did Mexico and Spain agree on?
To revive cooperation on energy and investment, focusing on renewables and the energy transition through technical visits, demonstration projects and joint working groups. No binding deal was signed; it was a framework meeting.
Why had relations soured?
Energy policy under former president López Obrador favored state firms and triggered disputes with private investors, leading Spain’s Iberdrola to sell most of its assets in Mexico.
Why now?
The visit follows a modernized EU-Mexico Global Agreement signed on May 22, and Spain wants to position itself as a leading partner to capture new investment opportunities.
Why was a meeting held virtually?
Teachers’ protests in central Mexico City blocked the Spanish delegation from reaching the National Palace, so President Sheinbaum met minister Cuerpo by video link instead.
Connected Coverage
For more on Mexico’s economy, see our coverage of the new EU-Mexico trade pact and Mexico’s record foreign direct investment.
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