Spanish infrastructure group Cox reorganization Latin America and United States expansion, Digi Mart USA News (Panama City): Spanish group Cox, which specializes in water and energy infrastructure, announced on Friday a new business structure designed to drive its growth in Ibero-America and the United States. The structure is based on three separate divisions: Cox México, Cox Latam, headquartered in Panama, and Service Co.
The Board of Directors of Cox Infrastructure Group, S.A. also approved a reorganization of the company’s management structure.
Nacho Moreno was named non-executive director of the Cox Group and will lead Riquelme Capital, while Patxi Sáez assumes the position of Chief Executive Officer (CEO) of the Group, according to a company statement issued in Panama.
Executive Chairman Enrique Riquelme said the reorganization strengthens the Group’s leadership and adapts the organization to its new reality. He said it lays the foundation for a strategy focused on the markets with the greatest growth opportunities, especially Mexico and the rest of Latin America.
Cox México will concentrate the group’s activity in that country, which became its main strategic market after the acquisition of Iberdrola México in April 2026. That deal added to Cox an operating installed capacity of more than 2,600 MW, making it the largest private power supplier in Mexico, with more than 500 major clients and a generation project portfolio of approximately 12 GW.
The company said it will use this platform to make new investments and leverage synergies between its water and energy businesses.
Cox Latam, based in Panama, will be responsible for developing, investing in and managing critical water and energy infrastructure in the rest of Latin America. It will pursue new concession projects and long-term investment opportunities, strengthening its presence in markets such as Chile, Brazil, Ecuador, Peru, Colombia and Central America.
Cox established its regional headquarters in Panama in September. From there, Riquelme alternates his activity with Spain, given the country’s geographic position.
In Panama, Cox is developing the Santa Cruz Wind project, with an installed capacity of 68.4 MW and 12 wind turbines. In August, the project won a contract with the state transmission company Empresa de Transmisión Eléctrica, S.A.
(Etesa) to supply approximately 5.22 TWh of wind energy over 20 years, valued at more than $350 million.
Service Co, with its main headquarters in Seville, Spain, will concentrate engineering, procurement and construction (EPC) activities, as well as operation and maintenance (O&M) of infrastructure. Spain will remain the headquarters and global corporate management center of Cox, where the group’s strategy, corporate policies and central services for the organization will continue to be defined.
Riquelme said Cox has fulfilled its roadmap ahead of schedule and exceeded growth expectations for the year. He said the company is now much larger and has the opportunity to open a more ambitious phase.
The new roadmap will include a policy of rotating and divesting non-strategic assets, including certain assets in regions such as Africa, with the aim of optimizing capital allocation and directing greater resources to the main investment opportunities in Latin America, while maintaining financial discipline and long-term value creation for shareholders.
