President Claudia Sheinbaum highlighted this Friday that COX will invest 10,690 million dollars in the country in the 2025-2030 period, which includes the purchase of the assets of Iberdrola Mexico announced on the eve, in addition to 4 billion dollars in new energy assets and another thousand 500 million in water concessions.
In this way, the president celebrated that the directors of the COX company are “very committed to investment in Mexico and the development of different projects, not only of energy (…) but also in other water projects and other issues that they develop”.
According to the president, COX agrees with the electrical generation standards established in the country, where 54 % is generated by the State and 46 % privately, as well as with the new regulation on the portage.
Cox that, “it has also been working in Mexico for years”, is a company with Spanish, European and American capital, which with this purchase is made with 25% of the market share and more than 20 theravats per hour (TWH) distributed among more than five hundred large customers.
In addition, COX will integrate more than 800 professionals that Iberdrola leave in Mexico.
The sale will be made between the fourth quarter of 2025 and the first quarter of 2026.
Sheinbaum said that the country’s departure from the Spanish energy company Iberdrola “was not a decision related to any problem they had with Mexico, but a business decision.
“They have decided to make a very large investment in other countries, in Europe particularly. They won a contest and have decided to guide most of their investments to this process,” said the president during the town’s morning.
Now, the Spanish Energy and Water Group will buy the Mexican subsidiary of Iberdrola for 4,170 million dollars, which include net financial debt and the participation of minority shareholders in subsidiaries.
With EFE information
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