MEXICO CITY.- The purchase made by the firm Cox Energy of the assets that Iberdrola operated in Mexico reflect the trust and certainty in Mexico, said the Ministry of Energy.
The agency stressed that the estimated acquisition of 4.2 billion dollars, as well as the announcement of Cox of Investments for more than 10,700 million pesos are based on legal certainty and the stability offered by the new regulation of the energy sector in Mexico.
“We congratulate ourselves for the investment in our country of Cox, a Spanish company specialized in renewable energy and water, whose profile is aligned with the expansion plans of the electricity sector and the goals of the Mexico Plan,” he said in a statement.
Lee: Cox announces purchase of Iberdrola Mexico for 4,200 million dollars
The Government explained that the assets purchased by COX include 15 power plants in operation, with an installed capacity exceeding 2,600 megawatts, as well as a superior generation portfolio
to 20 Teravatio-Hora per year.
‘Very positive the arrival of the group Cox’: Ebrard
The Secretary of Economy, Marcelo Ebrard, described as very positive the acquisition by Cox Energy.
“It is a group led by a young man in Spain, Enrique Riquelme, very young, International Innovation Award, began with investments in clean energy, now they also participate in water. And it is very good news the arrival of that group I think they will have very important investments in our country, the official said at the end of an event with entrepreneurs.
Last week, President Claudia Sheinbaum told the Spanish Iberdrola that “she would not have to retire from Mexico”, there are currently rules so that he can develop in the country.
Iberdrola maintained tensions with the administration of President Andrés Manuel López Obrador, who in February 2024 culminated in the purchase of 13 electric plants to Iberdrola by the State.
On June 12, 2023 Iberdrola signed the sale agreement of 13 electricity generation plants to the largest fund manager in the country, the state Mexico Infrastructure Partnets (MIF), and the National Infrastructure Fund (FONADIN), for a value of 6.2 billion dollars and that would provide 8.539 megawatts (MW).
Lee: Government tells Iberdrola that there is legal certainty so that it can develop
When announcing the acquisition, AMLO considered the purchase as a “new nationalization”, by granting the public sector 54% of the electricity generation in the country.
With EFE information
Inspy, discover and share. Follow us and find what you are looking for on our Instagram!
