Citi Mexico Gears Up to Finance Energy Projects as Infrastructure Push Gains Momentum

Citi Mexico expects stronger demand for corporate credit if the new wave of power projects in the federal infrastructure plan moves forward.

The relaunch of the federal government’s infrastructure agenda—with an emphasis on energy projects—is reviving discussions among companies, developers, and financial intermediaries at a time when the country is looking to shore up growth and improve industrial competitiveness. Citi Mexico expects this investment cycle could become a catalyst for financing among corporate and multinational clients, particularly in power generation, where the need for capacity and regulatory certainty has become a central issue for the productive sector.

During the 89th Banking Convention, Luis Brossier, CEO of Citi Mexico, said the bank views the infrastructure investment plan “in a positive light,” even though some projects still have details that remain to be defined. According to the executive, some clients are already in talks with the Federal Electricity Commission (CFE) to review technical alternatives and feasibility, while banks prepare to structure financing once there are clearer awards, contracts, and timelines.

The bank’s stance comes as energy investment has become a critical factor in sustaining the expansion of export-oriented sectors and in taking advantage of the reshuffling of supply chains in North America. In practice, appetite for power projects reflects both industrial demand—especially in manufacturing hubs—and the need to modernize grids, add capacity, and improve reliability, variables that affect operating costs and decisions about where to locate new plants.

Citi Mexico ended last year with a loan portfolio of 157.536 billion pesos and estimates that portfolio growth could accelerate in 2026 if infrastructure projects are launched and if the trade outlook with the United States becomes clearer during USMCA negotiations. Brossier put Mexico’s expected economic growth at 1.4% for the year—a moderate pace, though closer to what the bank considers the country’s near-term structural growth rate.

For the financial system, the infrastructure opportunity comes with challenges: interest rates that are still high in real terms, intense competition for top-tier clients, and the need to allocate capital to projects backed by solid contractual frameworks. For energy initiatives, credit appetite typically depends on revenue certainty (for example, supply contracts or payment schemes), execution risk, and the regulatory environment, as well as access to hedges and guarantees that reduce volatility.

Rules, Risk Controls, and the “Bank of Banks” Angle

Alongside infrastructure financing, Citi Mexico is looking to expand its role as a service provider to other financial institutions, a strategy the bank describes as becoming a “bank of banks.” This approach could become more relevant in a market where fintechs and nonbank players need transactional infrastructure, custody, trusts, and treasury services. At the same time, the industry faces increasing scrutiny around anti-money laundering, making compliance standards a competitive differentiator: banks with strong controls can attract clients that prioritize operational continuity and risk management.

The bank itself emphasizes that, because it operates with a U.S.-based parent, its processes align with global standards. In this context, the absorption of trusts and the migration of mandates toward institutions with greater control capacity also reflect a market reshuffling after recent episodes that heightened the sector’s sensitivity to reputational and regulatory risks.

Looking ahead, progress on the infrastructure plan—and especially the execution of energy projects—could become a confidence gauge for investors: if projects are awarded transparently, deadlines are met, and participation frameworks are defined, banks would have incentives to expand credit lines and structure long-term financing. Complementing that, the outcome of USMCA negotiations and trends in external demand will shape investment appetite among export-focused companies.

In short, Citi Mexico is preparing to capitalize on a financing window tied to energy infrastructure, while the market weighs regulatory certainty, disciplined controls, and the evolution of the economic and trade cycle with the United States.