By: Adrian L\u00f3pez Casab <\/p>\n\n\n\n
Public-private partnership (\u201cPPP\u201d) projects are those implemented under any legal structure designed to establish a long-term contractual relationship between public sector entities and private participants. PPPs constitute a legal and financial mechanism enabling the State to access private investment, while allowing private parties to participate in such projects beyond mere financing, taking an active role in their overall development.<\/p>\n\n\n\n
In this context, PPPs are intended to promote the development of infrastructure and the provision of public services, particularly in an environment characterized by budgetary constraints and an increasing demand for investment in strategic sectors. Typically, PPPs encompass the development, financing, construction, operation, and maintenance of long-term infrastructure assets, with contractual terms usually ranging from twenty to forty years. Notwithstanding their advantages, the implementation of PPPs has been marked by cycles of expansion and contraction, influenced by shifting public policy priorities, differing perceptions on private sector participation in public service delivery, and fiscal sustainability considerations. In this environment, the proper structuring of PPP projects requires not only technical sophistication but also a careful assessment of regulatory and political risk.<\/p>\n\n\n\n
In Mexico, PPPs are primarily governed by the Public-Private Partnerships Law (Ley de Asociaciones P\u00fablico-Privadas) enacted in 2012, its secondary regulations, and, on a supplementary basis, provisions relating to public works, budgeting, and fiscal responsibility. While such law applies at the federal level, most Mexican states have enacted analogous legislation\u2014aligned to varying degrees with the federal framework\u2014to regulate projects funded with local resources and generating revenues at the local level.<\/p>\n\n\n\n
Under the applicable legal framework, any ministry and governmental agency may act as contracting authorities in PPP projects. Given tha, in many cases, these projects involve the provision of public services or the use of assets that are\u2014or will become\u2014State-owned and therefore cannot be subject to traditional security interests or liens, PPPs are typically structured on a project finance structure. This entails the incorporation of a special purpose vehicle (SPV) that receives the project\u2019s proceeds, which in turn serve as the primary source of repayment for the financing provided by development banks or private financial institutions. Furthermore, the implementation of a PPP requires comprehensive legal, technical, and financial feasibility analyses, the rigor of which is critical to the project\u2019s bankability.<\/p>\n\n\n\n
From a corporate\/transactional standpoint, the negotiation and drafting of PPP documentation typically focus on matters such as: (i) the payment waterfall; (ii) the inclusion of covenants aligned with the project\u2019s cash flow profile; (iii) the scope and enforceability of lenders\u2019 step-in rights; (iv) key performance indicators (KPIs), upon which the developer\u2019s remuneration often depends; (v) compensation regimes; (vi) income adjustment mechanisms; (vii) termination events; and (viii) the treatment of project assets upon expiration or termination of the agreement. In this context, as in most structured transactions, the proper allocation of risks constitutes the cornerstone of any PPP.<\/p>\n\n\n\n
In sum, PPPs in Mexico represent a high-potential tool for infrastructure development and the efficient delivery of public services. However, their successful implementation requires a high degree of analysis and sophistication, commensurate with the complexity, scale, and long-term nature of the projects they are designed to support.<\/p>\n\n\n\n
<\/p>","protected":false},"excerpt":{"rendered":"
Por: Adri\u00e1n L\u00f3pez Casab Los proyectos de asociaci\u00f3n p\u00fablico-privada (\u201cAPP\u201d) son aquellos que se realizan bajo cualquier esquema legal \u00a0para establecer una relaci\u00f3n contractual de largo plazo entre instancias del sector p\u00fablico y del sector privado. Las APP constituyen un mecanismo jur\u00eddico-financiero que permite al Estado acceder a inversi\u00f3n privada, al tiempo que brindan a […]<\/p>","protected":false},"author":14,"featured_media":13621,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[99],"tags":[],"class_list":["post-13619","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-articulos","has-thumb"],"jetpack_featured_media_url":"https:\/\/www.mgps.com.mx\/wp-content\/uploads\/2026\/06\/Imagen-articulo-Adrian-Lopez-Casab-abril-2026.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.mgps.com.mx\/en\/wp-json\/wp\/v2\/posts\/13619","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.mgps.com.mx\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.mgps.com.mx\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.mgps.com.mx\/en\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/www.mgps.com.mx\/en\/wp-json\/wp\/v2\/comments?post=13619"}],"version-history":[{"count":2,"href":"https:\/\/www.mgps.com.mx\/en\/wp-json\/wp\/v2\/posts\/13619\/revisions"}],"predecessor-version":[{"id":13623,"href":"https:\/\/www.mgps.com.mx\/en\/wp-json\/wp\/v2\/posts\/13619\/revisions\/13623"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.mgps.com.mx\/en\/wp-json\/wp\/v2\/media\/13621"}],"wp:attachment":[{"href":"https:\/\/www.mgps.com.mx\/en\/wp-json\/wp\/v2\/media?parent=13619"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mgps.com.mx\/en\/wp-json\/wp\/v2\/categories?post=13619"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mgps.com.mx\/en\/wp-json\/wp\/v2\/tags?post=13619"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}