Cox Energy
Cox Energy is a Spanish-Mexican renewable energy company operating 2.6GW of solar PV and wind capacity with a 12GW pipeline. Following its 2026 acquisition of Iberdrola México, it runs Mexico's largest commercial electricity supply business serving industrial and commercial customers.
- Company typePublic
- Founded2014
- HeadquartersMadrid, Spain
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Cox Energy does
Cox Energy is a Spanish-headquartered renewable energy company that operates across the full electricity value chain from generation to commercial supply. Founded in 2014 and headquartered in Madrid, the company is publicly listed on Mexico's BIVA and BMV exchanges under the ticker COXA and previously on Spain's BME Growth, making it the only solar energy company with a dual listing in both markets. Following its March 2026 acquisition of Iberdrola México for approximately €3.6 billion, Cox operates 15 power plants with 2.6GW of installed renewable generation capacity and a 12GW pipeline of solar PV and wind projects in development.
The company's core technology portfolio spans utility-scale solar PV generation, cogeneration (combined heat and power) systems, and battery energy storage systems (BESS). Generation assets are monetized through long-term Power Purchase Agreements (PPAs) with Mexico's state utility CFE, supplemented by direct electricity supply to commercial and industrial customers via Mexico's largest commercial electricity supply business (acquired with Iberdrola México). Additional revenue streams come from industrial energy solutions developed through the Finsolar alliance, which targets 30 large-scale and 400 smaller solar and cogeneration installations by 2028, and from a battery storage joint venture with Bimergen Energy for up to 1 GW of US-based projects.
Cox's business model is contract-driven and infrastructure-based, relying on long-dated offtake agreements and capital-intensive project development rather than volume-pricing. The company has submitted 178 solar PV proposals totaling 26,494 MW and 34 wind projects totaling 9,324 MW to CFE's mixed generation programme. Customer segments are concentrated in industrial and commercial enterprises in Mexico, with CFE as a major counterparty on the supply side. The company is led by President Enrique Riquelme, and is currently undergoing capital structure reorganization, evidenced by its June 2026 exclusion from BME Growth and postponement of its restructuring prospectus.
Cox Energy firmographics
Firmographics- Name
- Cox Energy
- Legal name
- Cox Energy América, S.A.B. de C.V.
- Website
- https://coxenergy.com
- Company type
- Public
- Founded year
- 2014
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Cox Energy is a Spanish-Mexican renewable energy company operating 2.6GW of solar PV and wind capacity with a 12GW pipeline. Following its 2026 acquisition of Iberdrola México, it runs Mexico's largest commercial electricity supply business serving industrial and commercial customers.
- Ownership category
- akta.pro rank
Cox Energy industry classification
Industry- Product category
- Renewable Energy Generation and Electricity Supply
- NAICS
- Wind Electric Power Generation (221115), Solar Electric Power Generation (221114), Electric Power Generation (22111), Electric Power Generation, Transmission and Distribution (2211)
- SIC
- Cogeneration Services & Small Power Producers (4991)
- akta.pro primary industry
- Hybrid Wind Power Plants (Wind+Solar+Storage Co-located) (EUACAFAH)
- akta.pro secondary industries
- Onshore Wind Power Generation (Utility-Scale) (EUACAFAA), Natural Gas CHP (Industrial & Utility-Scale) (EUACAKAA), Retail Supply + DER/Virtual Power Plant Bundles (Solar, Storage, DR) (EUAGABAI), Utility-Scale VPPs & Grid Services Aggregation (Capacity, Frequency, Reserves) (EUAFAHAD)
Keywords
Where Cox Energy is headquartered
LocationHeadquarters
- HQ city
- Madrid
- HQ country
- Spain
- HQ region
- Europe
Offices2 records
Markets served
Cox Energy business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Infrastructure, Supply Chain, Operations, Personnel, Technology or R&D, Others
Revenue model
- Power Generation and Sale: Cox Energy generates electricity from 15 operational plants with 2.6GW of installed capacity. Revenue is derived from long-term Power Purchase Agreements (PPAs) with CFE and direct supply to commercial customers. The company operates across the full electricity value chain including generation and supply.
- Commercial Electricity Supply: Following the Iberdrola México acquisition, Cox Energy operates Mexico's largest electricity supply business for commercial customers, providing energy procurement services to industrial and commercial clients.
- Industrial Energy Solutions: Development and operation of solar and cogeneration power plants for industrial clients, offering significantly lower electricity costs and increased supply stability under long-term contracts.
Go-to-market motion2 records
Distribution channels3 records
Marketing channels3 records
Cox Energy product offering
Product offeringCore offering
Cox Energy is an integrated renewable energy company that generates and supplies electricity in Mexico. It operates 15 power plants with 2.6GW of installed solar PV and wind capacity (acquired from Iberdrola), maintains a 12GW development pipeline, runs Mexico's largest commercial electricity supply business, and develops utility-scale solar, cogeneration, and battery energy storage (BESS) projects for industrial clients.
Product overview
Cox Energy is a Spanish renewable energy company listed on both BIVA and BMV (ticker: COXA*) that operates across the full energy value chain. The company functions as an integrated energy platform combining power generation assets (2.6GW operational capacity plus 12GW development pipeline), commercial electricity supply for industrial customers, and project development services. Key offerings include renewable generation portfolio (solar PV and wind), industrial solar and cogeneration plants developed through the Finsolar alliance, battery energy storage systems via the Bimergen joint venture, and electricity supply services for commercial clients. The company recently expanded significantly through the acquisition of Iberdrola's Mexican operations.
Differentiator
Problem solved
Functional benefit
Products and services
- Renewable Energy Generation Portfolio Operating portfolio of 15 power plants with 2.6GW of installed capacity, comprising solar PV and wind generation assets acquired from Iberdrola México. Provides renewable electricity under long-term PPAs and direct supply arrangements for industrial and commercial customers.
- Commercial Electricity Supply Mexico's largest electricity supply business for commercial customers, offering power procurement and energy management services to industrial and business clients under the acquired Iberdrola México operations.
- Industrial Solar Power Plants Large-scale dedicated solar PV installations developed for industrial clients, providing lower electricity costs and supply stability under long-term contracts.
- Cogeneration Power Plants Combined heat and power (cogeneration) generation facilities developed for industrial clients as part of the Cox Energy-Finsolar $250 million alliance in Mexico.
- Battery Energy Storage Systems (BESS) Utility-scale battery energy storage system (BESS) projects developed through a joint venture with Bimergen Energy Corporation, with capacity allocation of up to 1 GW, supporting grid stability and renewable energy integration.
- Renewable Energy Project Development Pipeline A 12GW pipeline of renewable energy projects in development, primarily solar PV and wind, positioned for long-term Power Purchase Agreements with CFE and direct supply to commercial customers.
Quantifiable outcome
- 178 solar PV proposals (26,494 MW) and 34 wind projects (9,324 MW) submitted to CFE's renewable programme
- +1 more outcomes
Companies that use Cox Energy
Customer profileNamed customers1 record
Segments2 records
Ideal customer profiles1 record
Cox Energy technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Cox Energy partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered core.
- Bimergen EnergycoreCox Energy Group established a joint venture with Bimergen Energy for the development of utility-scale battery energy storage system (BESS) projects up to 1 GW capacity across the United States, supporting grid stability and renewable energy integration.
- RelyEZ Energy GroupcoreBimergen Energy established a joint venture with RelyEZ Energy Group for up to 2 GW of utility-scale BESS project development. Cox Energy Group separately has a joint venture with Bimergen for up to 1 GW of BESS projects.
- FinsolarcoreCox Energy and Finsolar formed a strategic alliance to invest $250 million in Mexico developing solar and cogeneration power plants for industrial clients. The partnership aims to build 30 large-scale installations and 400 smaller units by 2028 across multiple industrial regions.
Scale indicators9 records
Recent moves6 records
Expansion highlights6 records
Cox Energy competitors and assessment
Company assessmentDirect peers
- Iberdrola: Spanish-headquartered global renewable and grid operator; Cox Energy directly acquired Iberdrola's Mexican subsidiary (2.6GW operational + 12GW pipeline) in March 2026, making it the closest possible peer on geography, asset mix, and integrated business model.
- Solaria Energía y Medio Ambiente: Madrid-based utility-scale solar PV developer listed on the Spanish continuous market; directly comparable on technology focus (utility-scale solar), Iberian capital-markets listing, and project pipeline-driven growth model.
- Audax Renovables: Spanish renewable energy and retail electricity supply company; closely comparable business model combining renewable generation with commercial/retail electricity supply, and operates in the same Iberian-Mediterranean market footprint.
- Grenergy Renovables: Spanish-listed renewable energy developer with solar, wind, and BESS projects across Iberia and LatAm; directly comparable on solar+storage technology stack, project pipeline-led growth model, and emerging market exposure (Chile, Peru, Colombia).
- Atlantica Sustainable Infrastructure: London-listed sustainable infrastructure company with concentrated renewable and transmission assets in North America and Latin America; comparable on contract-based renewable revenue model and emerging-market asset exposure.
Broad incumbents
- Acciona Energía: Spanish-listed pure-play renewable IPP with global wind and solar assets; comparable to Cox on Iberian listing, project development pipeline, and operating capacity scale, though substantially larger and more geographically diversified.
- Enel: Global integrated utility with major renewable generation, distribution, and retail operations in Latin America (especially Mexico via Enel Green Power); comparable on integrated generation-to-supply model and Latin America renewable exposure, though at materially larger scale.
- EDP Renováveis (EDPR): Global wind and solar developer with significant presence in Latin America including Mexico; comparable on technology mix (wind/solar), PPA-driven revenue model, and global pipeline conversion strategy, though backed by a larger parent (EDP).
- NextEra Energy: Largest renewable IPP globally with substantial wind and solar pipeline plus the largest US BESS portfolio; comparable on technology stack (wind/solar/storage), long-term PPA economics, and pipeline-to-revenue conversion model, though operating in a different regulatory regime.
- ENGIE: Global energy major with renewable generation, cogeneration, and retail energy operations across Latin America (including Mexico); comparable on integrated generation-to-supply model and exposure to industrial cogeneration, though much larger and more diversified across geographies.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
Cox Energy social profiles
Digital presenceCox Energy financial estimates
Financial estimateRevenue estimate
Valuation estimate
Cox Energy leadership team
Management profileNumber of profiles
Profiles2 records
Cox Energy subsidiaries and ownership
Company hierarchySubsidiaries1 record
Cox Energy funding detail
Funding detailFunding overview
Funding rounds1 record
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Cox Energy M&A and investment
M&A and investmentM&A2 records
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Cox Energy
What does Cox Energy do?
Cox Energy is an integrated renewable energy company that generates and supplies electricity in Mexico. It operates 15 power plants with 2.6GW of installed solar PV and wind capacity (acquired from Iberdrola), maintains a 12GW development pipeline, runs Mexico's largest commercial electricity supply business, and develops utility-scale solar, cogeneration, and battery energy storage (BESS) projects for industrial clients.
Is Cox Energy a public or private company?
Cox Energy is a public company. It is classified as public and is currently operating.
When was Cox Energy founded?
Cox Energy was founded in 2014. It employs 11 to 50 people.
Where is Cox Energy based?
Cox Energy is headquartered in Madrid, Spain, in the Europe region.
How does Cox Energy make money?
Three revenue lines are on record. Power Generation and Sale is the primary driver. The others are commercial Electricity Supply and industrial Energy Solutions.
Who are Cox Energy's main competitors?
Direct peers on record are Iberdrola, Solaria Energía y Medio Ambiente, Audax Renovables, Grenergy Renovables and Atlantica Sustainable Infrastructure. Broad incumbents are Acciona Energía, Enel, EDP Renováveis (EDPR), NextEra Energy and ENGIE.
Does Cox Energy have an API?
No public API is recorded for Cox Energy.
What industry is Cox Energy in?
Cox Energy's product category is Renewable Energy Generation and Electricity Supply. Its primary akta.pro industry code is EUACAFAH, Hybrid Wind Power Plants (Wind+Solar+Storage Co-located), with a secondary code of EUACAFAA, Onshore Wind Power Generation (Utility-Scale). Its NAICS code is 221115 and its SIC code is 4991.