Grupo México buys 70% of Saavi Energía

Grupo México completed the acquisition of power generator Saavi Energía from Global Infrastructure Partners (GIP), a subsidiary of BlackRock. The transaction creates the largest privately owned independent power generator in Mexico.

The conglomerate paid $880 million in cash from its own cash flow to acquire a 70% stake in Saavi, while GIP retains the remaining 30%. Grupo México values the power platform at $5.5 billion and forecasts Saavi will generate between $675 million and $725 million in EBITDA for 2026.

Saavi currently holds 4.5GW of capacity. After integrating Grupo México's own power plants, the combined business operates 14 facilities across northern and central Mexico, comprising combined-cycle gas turbine and renewable energy plants. Saavi also maintains a pipeline of approximately 5GW in projects.

In a stock market filing on 8 September, Grupo México said the deal marks the start of a long-term relationship with GIP to explore energy and infrastructure projects in Mexico and across the Americas. The investment comes as Mexican President Claudia Sheinbaum targets private investment in power generation up to a 46% annual share.