Overview
- The transaction, filed with Spain’s CNMV on July 31, transfers 15 power plants with a combined 2.6 GW capacity—1,368 MW of combined-cycle units and 1,232 MW of renewables—to Cox.
- The sale remains subject to customary approvals from Spain’s CNMV as well as Mexico’s energy and antitrust regulators before it can close.
- Iberdrola will deploy sale proceeds to support €55 billion of investment in its regulated electricity networks in the United States and the United Kingdom.
- Cox has outlined a $10.7 billion five-year investment programme in Mexico covering new energy assets, water concessions and joint generation projects with the CFE.
- Iberdrola’s full exit reflects continued uncertainty under Mexico’s 2021–24 energy reforms and constitutional limits on private transmission and distribution.