CFE Fibra E opens offering of up to $867 million for the transmission grid

The Federal Electricity Commission (CFE) began investor meetings on November 10, 2026, for a follow-on public offering of CFE Fibra E of up to 867 million dollars, with a base of 580 million, whose proceeds will be channeled to the National Transmission Grid (RNT).

The transaction, the vehicle's first equity placement in the primary market since 2018, contemplates around 451 million Energy and Infrastructure Investment Trust Certificates (CBFE), with an additional placement option of up to 30% of the base offering and an overallotment of up to 15%, according to El Economista. The International Finance Corporation (IFC), part of the World Bank Group, is evaluating the purchase of up to 80 million dollars in certificates, close to 13.8% of the base offering, according to Bloomberg Línea.

The proceeds will be used to acquire additional trust rights in the Promoted Trust, where CFE holds a 9.51% stake, and for National Transmission Grid projects. The public component in Mexico is subject to authorization by the National Banking and Securities Commission (CNBV), while the international tranche targets institutional investors. BofA Securities, Citi and Santander act as global coordinators; Actinver, BBVA and Goldman Sachs México participate as placement intermediaries.

Transmission is the segment that determines how much new generation, including renewable capacity, can connect to the National Electric System. Forbes México reports that the proceeds aim to expand and reinforce transmission infrastructure, facilitate the incorporation of clean energy and contribute to energy security. Adding clean energies to the system depends on the grid's evacuation capacity, a link the company establishes in the destination of this placement. The final amount will depend on market conditions and on the exercise of the placement options. CFE's finance director had previously estimated raising close to 1,000 million dollars with this vehicle, according to Bloomberg Línea.

CNBV approval and the final placement price are the next milestones in the process. The transaction marks CFE Fibra E's return to the primary equity market after nearly nine years.

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