Cox new strategic plan following Iberdrola México acquisition, Digi Mart USA News (Ibero-America): Enrique Riquelme, executive chairman of Cox, announced that the energy and water utility will present a new strategic plan later this year, after completing its acquisition of Iberdrola México in April. Speaking on the second day of the XVI Encuentro Empresarial Iberoamericano (EEIB), Riquelme said the new strategy will include “new objectives and new projects.”
Riquelme said the company had advanced more than planned in a single year across its entire horizon set through 2028. “We designed a new project because we have accelerated what we had set out to do, and we do it with the same discipline, but with an even greater ambition.
We want to invest more, develop more projects and expand our contribution to the infrastructure Ibero-America needs.”
He added that what the group has achieved so far “is not only an arrival point, but a stronger foundation from which to keep growing.” Cox completed the purchase of Iberdrola México in April for $4 billion (about 3.413 billion euros), after receiving the necessary regulatory approvals. The deal added a generation platform with 2,600 megawatts (MW) of operating installed capacity and the largest electricity supplier in Mexico, with more than 25% market share.
The acquisition also included a pipeline of about 12,000 MW of renewable projects in various stages of development and a team of more than 800 professionals. Cox plans growth of more than $3 billion (about 2.662 billion euros) in Mexico in the coming years and in its other strategic regions.
Riquelme emphasized that the Americas are a “fundamental part” of Cox’s strategy, representing 95% of its business, and expressed confidence in Ibero-America as a market for “building lasting relationships.” He said business will alone “is not enough” and that greater investment requires clarity on conditions such as regulatory stability, legal protection and public-private partnerships.
“Ibero-America does not need to choose between openness and security; it needs to build a safer openness,” he said. “We do not need to choose between growth or security; we need growth that can be sustained because it generates well-being and cares for the resources it depends on.
Ibero-America does not need to choose between the state or the private sector. It needs both sectors to rise to their responsibility.”
Riquelme said Cox will continue to commit to investing, forming alliances and contributing to “a safer economic space with more future” in Latin America. “That is the Ibero-America we believe in, and that is the Ibero-America in which Cox will continue to invest,” he said.
