Holding company · Tampa, Florida · Latin roots since 1983

Energy intelligence and project finance across the Americas

A US company with Latin roots: we bring international capital to energy, data center and critical infrastructure projects in Latin America, and our own companies build them.

Today’s brief For investors

Analyzethe market and each site, every day
StructureSPV, contracts and payment trust
Fundequity and project debt, US and international
Overseeconstruction and operation, on the owner’s behalf

PMI Energy Brief · Saturday, October 31, 2026

All briefs

RegulatoryOctober 29, 2026

SENER extends the storage window of its strategic projects call to March 2027

An Energy Ministry agreement published in the Official Gazette moves the registration period for battery storage expressions of interest and connection-study requests to June 2, 2026 – March 1, 2027. The call covers renewable generation and storage projects developed under schemes with CFE, aligned with binding planning.

Why it mattersDevelopers preparing battery storage under this call have more time to file; the call has now been modified four times since May.

Source: DOF, 29-oct-2026

RegulatoryOct 27
CFE publishes its basic-supply final tariffs in force since October 1
Source: DOF, 27-oct-2026
RegulatoryOct 29
Supreme Court strikes down municipal levies on electricity and hydrocarbons in Coahuila
Source: DOF, 29-oct-2026
FinanceOct 28
Akaysha refinances four battery projects with an A$1.75 billion portfolio facility
Source: Mercom, 28-oct-2026
MarketsOct 16
Henry Hub spot averages US$3.11 in the first half of October, up 8.4%
Source: American Gas Association, 16-oct-2026
MarketsOct 7
Mexico's plan for the term: 1.17 trillion pesos in power and gas, most generation with mixed or private capital
Source: El Imparcial, 7-oct-2026

Indicators

Exchange rate (FIX): 18.8148 MXN per USD
TIIE 28 days: 6.7860 % annual
Overnight funding TIIE: 6.5300 % annual
UDI (inflation unit): 8.872684 MXN
Henry Hub spot, Oct 1–15 avg.: 3.11 USD/MMBtu

Source: DOF · Banco de México, Oct 30 · Henry Hub: AGA (Argus data)

Why invest now

Demand is structural. Supply is the bottleneck.

Four official figures behind the investment case

+3.6%a year: global electricity demand, 2026–2030IEA, Electricity 2026

950 TWhused by data centers in 2030, double the 485 TWh of 2025IEA, Key Questions on Energy and AI, 2026

+50%in annual grid investment needed by 2030, from USD 400 billion todayIEA, Electricity 2026

~80%of new electricity demand to 2030 comes from emerging economiesIEA, Electricity 2026

Why now

Contracted cash flows: energy contracts of 48 to 180 months, and mixed schemes of up to 30 years in Mexico.
AI and data centers add firm load that runs around the clock.
Grids are not keeping pace: whoever brings the power wins the contract.

Why Latin America

Emerging economies drive about 80% of new electricity demand (IEA).
Mexico is the top US trading partner: 16.8% of US goods trade, January–August 2026 (US Census Bureau).
Capital is scarcer: financing costs up to seven times those of the US and Europe (IEA, 2021). Room for well-structured projects.

Why through PMI

A US counterparty (Tampa, since 2001) with Latin American roots since 1983.
Its own operating companies on the ground: development, permits, construction and operation.
USD 500 M+ in critical infrastructure; power plants operating in Mexico since 2009.

The full investment case

The group

Where each company fits

PMI structures and funds; GIS Power and GTO Energy build and operate

01Intelligence

02Origination

03Structuring

04Capital

05Construction

06Operation

Market intelligence, feasibility, structure and capital

Owner’s oversight

Development, permits, construction and operation · large-scale generation, cogeneration, data centers

Diagnosis

Industrial electrical engineering, construction and O&M

The bridge: how capital reaches the asset

Capital from US and international investors
PMI structures the project and its SPV
GIS Power or GTO Energy build and operate
Asset in operation under long-term contracts
Cash flow returns to investors through the trust

Financing

How a project is financed

The most-used structures, and where the money comes from

Project finance (SPV)Debt repaid by the project’s own cash flow, not the sponsor’s balance sheet.

Power purchase agreementThe user buys the energy at an agreed rate; the SPV owns the plant.

BOOT · BOOThe SPV builds, owns and operates; it transfers the plant at term (BOOT) or keeps it (BOO).

Energy as a serviceA monthly fee for capacity and availability, with performance targets.

LeasingThe user leases the plant and pays in installments.

Mixed scheme (Mexico)CFE holds at least 54%; private capital up to 46%, for up to 30 years.

Capital stack: where the money comes from

EquityInfrastructure funds · family offices · sponsors

MezzanineSpecialized funds

Senior project debtCommercial banks · development banks

↑ More risk, more expected return↓ Paid first

Payment trust: who gets paid first

1Operation and maintenance
2Senior debt service
3Debt service reserve
4Mezzanine
5Distributions to equity

The user’s payments go into the trust, which pays in this order before anything reaches the sponsors.

Illustrative: the actual proportions depend on each project.

How we structure a project

Capital protection

How we protect capital

Five layers between your investment and the project’s risks

Each layer covers a different risk: the project, the payments, the construction, physical damage and the quality of the work.

See each layer in detail

1
One SPV per projectRisk ring-fenced in each asset.
2
Payment trustThe user pays into a trust that serves debt first.
3
EPC bonds and guaranteesContractor and equipment answer for delivery and performance.
4
Construction and operation insurancePolicies cover physical damage and lost revenue.
5
Independent engineerA third party reviews design, progress and start-up.

Every investment carries risk. These layers reduce it; they do not eliminate it.

For funds and investors

A portfolio structured for project finance

Identified portfolio: USD 1.5 B
Projects: 15
Capacity: 914 MW
Contract term: 48–180 months

Aggregated figures for the group’s identified portfolio, developed by GIS Power, in Mexico, the United States, Belize, the Bahamas and Ecuador.

Investor information

Track record

Since: 1983
Critical infrastructure: USD 500 M+
Mission-critical facilities: 13
Cogeneration in Mexico: 56+ MW

In the United States, Mexico, Brazil and the Bahamas. See the projects

PMI Energy Brief

Regulatory radar

What the Official Gazette published this week that touches energy, and what it means for a project

Date	Publication	What it means	Source
Oct 29	SENER extends the storage window of its strategic projects call to March 2027	Developers preparing battery storage under this call have more time to file; the call has now been modified four times since May.	DOF, 29-oct-2026
Oct 27	CFE publishes its basic-supply final tariffs in force since October 1	These are the official reference for any comparison between on-site generation and grid supply.	DOF, 27-oct-2026
Oct 29	Supreme Court strikes down municipal levies on electricity and hydrocarbons in Coahuila	The Court keeps treating electricity as a federal matter, which matters when a municipality tries to tax energy activity at a project site.	DOF, 29-oct-2026