Renewable Giant Iberdrola Halts New Investments in Mexico

Spain’s largest utility Iberdrola SA became the first major renewable-energy developer to halt new investments in Mexico after the government took steps to slow solar and wind projects in the country.

Iberdrola will continue investing in projects under construction, Chairman and Chief Executive Officer Jose Ignacio Sanchez Galan said Wednesday.

“We are in this moment, in Mexico, completing the investment we have started a few months ago, a few years ago,” Sanchez Galan told analysts during the company’s third-quarter earnings call. “We have not started new ones --unless the government decides to clarify the policy.”

Earlier this year, Mexican President ...