Iberdrola has reached an agreement to Sell your businesses in Mexico to the Cox Energy group for a total of 4,200 million dollarsequivalent to about 3.7 billion euros, both companies reported.
In this transaction, they are included 15 centrals with a total capacity of 2.6 gigawatts (GW), commercial activity and a developing project portfolio that the buyer intends to put into operation in the future.
The agreement is subject to the usual regulatory approvals and a multiple of 1.6 million dollars (approximately 1.4 million euros) per megawatt (MW) operational has been established.
Motivation behind the sale
The electric chaired by Ignacio Sánchez Galán has explained that this transaction is in line with its investment plan of 55,000 million euros in its subsidiaries of electric transport and distribution networks, with a main approach in the United States and the United Kingdom.
On the other hand, COX stressed that this acquisition will allow you to fulfill your strategic plan three years earlier than expected, originally established for the 2025-2028 period. It is estimated that at the end of the year 2025, the company will reach a proform sales figure close to 3,000 million euros and a gross exploitation result (EBITDA) of around 750 million euros.
Both companies have expressed their commitment to this operation and expect them to strengthen their respective positions in the energy market, as well as boost their growth and profitability in the future.