Bloomberg — The President of Mexico, Andrés Manuel López Obrador, met Wednesday (January 18th) with representatives of the Caisse de depot et placement du Québec (CDPQ), the second largest pension fund in Canada, a week after his bilateral meeting with the Canadian Prime Minister Justin Trudeau.

The CDPQ confirms that a meeting took placebut did not give further details.

The C$392 billion (US$290 billion) fund had C$6 billion in assets in Mexico at the end of 2021 and has partnered with CKD Infraestructura México, a consortium of institutional investors, to invest in infrastructure projects, according to its website.

The energy policy of AMLO, as the Mexican president is called, favors the state-owned power company, Comisión Federal de Electricidad (CFE), over private renewable energy companies.

In 2017, la Caisse and CKD acquired 80% of the Mexican wind and solar assets of Enel Green Power SpA for a total investment of US$1.35 billion.

The Caisse questioned the Mexican leader about the policy, according to a person familiar with the matter. The United States and Canada have previously raised concerns about the possibility of violating the United States-Mexico-Canada Treaty (USMCA) and are considering whether to seek arbitration.

Mexico’s president extended an olive branch to Canadian businesses after hosting Biden and Trudeau in Mexico City, where the North American Leaders Summit was being held.

During its morning conference on Wednesday, January 18, AMLO confirmed talks with a mining company and said another company linked to a Canadian pension fund had concerns over a self-supply electricity contract.

Learn more at Bloomberg.com