Madrid, 8 (Europa Press)
Cox Energy USA has acquired a 40% stake in photocopier company iBox Energy for மில்லியன் 95 million, signaling that the group listed on the Mexican Stock Exchange (BIA) is entering the European renewable market.
This activity is part of the Cox Energy America 2020-2024 Business Plan, which aims to promote diversification into markets, currencies and regulatory risks. Once the acquisition is closed, the team, led by Enrique Rickelme, will see its assets strengthen by about 2 MW (MW).
Ipox Energy is dedicated to building and commissioning photovoltaic plants in Spain and other EU countries such as Italy and Portugal. The company has a pipeline of more than 4,000 MW, of which about 1,000 MW is supported by long-term power purchase agreements (PPAs).
The company has several wind farms under construction and operation in Spain, including a 50 MW plant in C கோrdoba, which will soon merge with others in Ciudad Real and Patajos.
The acquisition of this 40% stake in iBox Energy is built on a fixed area (மில்லியன் 20 million) to be paid by the end of 2022, and another variable (75 75 million) based on the results. The purchase is subject to various approvals, including regulatory ones, which are expected to be reached in the coming weeks.
Cox Energy America, a solar company across the value chain, had a portfolio of more than 40 solar parks prior to the transaction, with a generating capacity of more than 2,000 MW, of which a significant percentage support ‘PPAs’.
Group investment projects are located in Mexico, Chile, Colombia, Central America and the Caribbean, as well as in Spain and, soon after the closure of the European site, in other EU countries.