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Cox Energy Outlines $10.7 Billion Mexico Plan as Iberdrola Deal Awaits Approval

Approval for Cox’s $4.2 billion Iberdrola acquisition is expected by early 2026, enabling its $10.7 billion roadmap for Mexican renewables, storage, water infrastructure.

Overview

  • The $4.2 billion purchase of 15 Iberdrola plants in Mexico awaits final antitrust and energy-market clearances projected for Q1 2026.
  • Once approved, Mexico will represent roughly 50 percent of Cox Energy’s global installed capacity, revenues and EBITDA.
  • Cox has allocated $4 billion to new renewable generation paired with battery storage through 2030.
  • The firm plans to invest $2.5 billion in an industrial hub in Veracruz and water projects including six desalination plants.
  • Following Mexico’s 2024 energy reform, Cox intends to divest from non-core markets and concentrate growth on seven strategic regions, led by Mexico and Chile.