Iberdrola sells entire Mexico business to Cox for 2,600 MW portfolio

Iberdrola finalized the sale of its entire Mexico business to Mexican company Cox after securing all necessary regulatory approvals. The transaction includes 2,600 MW of operational capacity comprising 1,368 MW from combined cycle and cogeneration plants and 1,232 MW from wind and solar assets, along with commercial operations and a project pipeline. Cox plans to bring additional generation capacity online in the future. The deal aligns with Iberdrola's strategy to focus investments on regulated grid businesses, long-term contracted generation, and core markets like the United States and United Kingdom. The portfolio spans multiple Mexican states with assets operational since 2010. No financial terms were disclosed for the transaction.

Counterparts (2)

Buyer

Cox

company · 2 deals

Cox Enterprises is a global company with major divisions in communications and automotive industries. They are entering additional spaces like cleantech and healthcare to build a better future for the next generation. The company is committed to reducing its impact on the planet.

Seller

Iberdrola

company · 12 deals

Iberdrola is a global energy leader, primarily focused on renewable energy development and operation. They invest in clean energy technologies, smart grids, and energy storage solutions to drive the energy transition.