CFE Seeks $1 Billion from Investors to Finance Transmission

The Comisión Federal de Electricidad (CFE) aims to raise close to $1 billion in November 2026 through a share offering from CFE Capital, an investment vehicle holding transmission assets, according to El Financiero on October 31, citing an interview with its finance director, Eugenio Amador Quijano.

CFE officials plan to meet with investors in New York in early November, ahead of a potential placement that would be the largest cash equity offering in Mexico since 2020. The transaction adds to the company's first 40-year peso bond in the debt market.

The details of the plan also appeared in Bloomberg Línea, which confirms the $1 billion figure and the destination in transmission infrastructure. Investors would acquire a stake in the revenue from state transmission lines.

The amount matters for the region because the grid of the Sistema Eléctrico Nacional (SEN) connects generation with industrial demand in the center and north of the country, and its expansion shapes the projects that seek to export or supply electricity to the United States.

CFE Capital, which operates in a way similar to a Fibra E, has been nearly inactive since its 2018 stock market listing. At that time it raised 16,400 million pesos, around $880 million, and close to one third came from foreign investors. Amador said the company now seeks to sell again close to one third of the shares to foreign capital.

According to El Financiero, CFE intends to expand the grid by around 7 percent in this administration, compared with growth of no more than 1 percent in the previous eight years. Around 60 percent of transmission investment would come from public funds and close to 40 percent from the private sector. The plans contemplate tripling recent levels of transmission investment within two years.

The executive also anticipated that the company is studying listing on the stock exchange, in the coming years, a trust backed by power plants, and that it is considering further share offerings later on.

Investors and analysts will watch the response of Mexican and foreign pension funds during the New York roadshow, as well as the schedule of the placement planned before Thanksgiving.

This article was written with the assistance of artificial intelligence from verified sources and reviewed by a human editor before publication.