Iberdrola divests Mexico business to Cox in $4bn deal

Iberdrola has completed the $4bn (€3.41bn) merchantability of its Mexican concern pursuing the receipt of each required regulatory approvals, transferring operational assets with a capableness of 2.6GW to Cox, a planetary h2o and vigor utility.

The transaction comprises 1.37GW from combined-cycle and cogeneration plants and 1.23GW from upwind and photovoltaic sources.

Commercial operations and a pipeline of powerfulness procreation projects are besides included successful the deal, with Cox intending to beforehand these arsenic portion of its maturation strategy successful Mexico.

Cox completed the acquisition of Iberdrola México according to the presumption announced successful July 2025.

The acquired level includes the largest backstage vigor supplier successful Mexico, with much than 25% marketplace stock and yearly income of 20TW-hours to much than 500 large customers.

The assets adhd much than 12GW of procreation projects nether improvement and employment much than 800 staff, whom Cox volition retain.

Cox has received concern and advisory enactment from planetary banking and concern companies and was advised by a fig of planetary ineligible practices.

The transaction marks a important measurement successful Cox’s stated volition to grow its integrated inferior operations wrong precedence markets crossed Latin America, making Mexico a cardinal hub for further determination activity.

Cox enforcement president Enrique Riquelme Vives said: “This cognition is framed wrong the imaginativeness of President Claudia Sheinbaum and her authorities to crook vigor and h2o into authentic authorities policies astatine the work of inclusive and sustainable improvement for each Mexicans.

“With an integrated level that combines businesslike powerfulness procreation and precocious h2o absorption solutions, Cox aligns afloat with the Mexican Government’s priorities, which are aimed astatine reinforcing vigor security, h2o sovereignty and semipermanent concern successful strategical infrastructure nether a wide and just regulatory framework, with nationalist readying susceptible of attracting planetary investment.”

For Iberdrola, the divestment fits wrong its ongoing strategy to absorption concern connected regulated transmission and organisation businesses and semipermanent contracted generation, chiefly successful its cardinal markets of the US and the UK.

The determination aligns with Iberdrola's 2025–28 strategical plan, which allocates €58bn to make energy networks, prioritising the UK and US.

The presumption relationship for the imaginable of aboriginal payments to Iberdrola pending the completion of further procreation projects.

"Iberdrola divests Mexico concern to Cox successful $4bn deal" was primitively created and published by Power Technology, a GlobalData owned brand.