Overview

• The agreement covers 15 power plants with a combined 2.6 gigawatts of generation capacity.
• The transaction awaits approvals from antitrust and energy regulators and is expected to close between the fourth quarter of 2025 and the first quarter of 2026.
• Cox will assume more than 800 former Iberdrola staff and will hold roughly 25 percent of Mexico’s private electricity market upon closing.
• President Claudia Sheinbaum emphasized that Iberdrola’s departure reflects a strategic corporate shift rather than any conflict with the Mexican government.
• Alongside the $4.2 billion purchase, Cox has pledged to invest $10.69 billion more in Mexican energy and water assets through 2030.