Grupo Cox, a Spanish multinational water and energy company, has acquired Iberdrola’s assets in Mexico for $4.2 billion, representing one of the largest cross-border energy deals of the year.
The deal includes 15 operational power plants with more than 2,600 megawatts of installed operational capacity, of which 1,368 megawatts are combined-cycle and cogeneration plants, 1,232 megawatts are renewable-energy assets and a generation project pipeline of 12 gigawatts from various energy sources. The transaction also includes the largest qualified user supplier in Mexico, with a 25 percent market share and more than 20 terawatt-hours distributed across 500 large clients.
This is a transformational transaction for Cox, elevating the company’s scale and strategic positioning and establishing it as an integrated utility with a solid presence in the Mexican electricity market. With this acquisition, Cox confirmed it has completed its strategic plan three years ahead of sched
