COBRA Group

What COBRA Group does

COBRA Group, legally Cobra Instalaciones y Servicios S.A.U. (Grupo Cobra), is a privately held Spanish industrial engineering and infrastructure services conglomerate founded in 1944 and headquartered in Madrid. The company organizes its operations across four business pillars: Networks (electricity, gas, water and auxiliary services), Specialized Facilities (electrical and mechanical installations, data and fiber solutions, mechanical assemblies including naval, comprehensive maintenance, control and security systems, and infrastructure management), Integrated Projects (power generation EPC, oil & gas, and environmental infrastructure such as desalination and wastewater treatment), and Investment Assets (long-term concessions and project finance for renewable energy and water assets). It executes this portfolio through nine wholly-owned subsidiaries, including Tedagua for water treatment, Moncobra for mechanical assembly, Humiclima for HVAC, Maessa Naval, Eleia Energia, Atil Cobra, Cobra IH, Grupo Procme in Portugal, and Serpista.

The company derives revenue primarily through one-time EPC contracts for large-scale infrastructure projects and ongoing professional services for installation, maintenance, and networks management, supplemented by managed services revenue from long-term concessions and investment assets structured through project finance. Notable operational assets include the 570 MW Belmonte photovoltaic plant in Brazil (approximately 1,200 GWh/year), 738 km of transmission lines across three Brazilian states, the 299 MW Poolbeg open cycle power plant and a 130 MWp PV project in Ireland, HVDC substations for the CASA-1000 interconnection in Tajikistan and Pakistan, the Maya Train electrification in Mexico, and data center construction for BBVA and the Spanish Social Security IT Management. It operates in 43 countries with a 10,000+ workforce and a decentralized execution model.

COBRA Group pairs its core EPC and asset-ownership business with an active R&D program spanning EU- and Spain-funded consortia, with proprietary or co-developed technologies including the HERCULES thermochemical storage system, GD-OSWind digital twin for floating offshore wind, MSLOOP 2.0 ternary-salt CSP, DISTECH2 photoelectrolyzer for green hydrogen, TRIBAR biomass-solar micro-trigeneration, and AI-driven predictive maintenance platforms (FVPREDICTIVE, SYNERGY, WATEREYE, Termosolia). Pricing is project-specific, driven by competitive bidding and direct negotiation; customer segments span utilities and energy companies, industrial and manufacturing firms, and government/public-sector entities. The company has no publicly disclosed parent company or institutional investor, though a 2025 capital event with Alterra Capital Partners as lead investor is documented.

Name

COBRA Group

Legal name

Cobra Instalaciones y Servicios S.A.U.

Website

https://grupocobra.com

Company type

Private

Founded year

1944

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

COBRA Group is a privately held Spanish industrial engineering and infrastructure conglomerate founded in 1944, delivering EPC, networks, specialized installations, and asset concessions for energy, water, and industrial clients across 43 countries.

Ownership category

akta.pro rank

Product category

Industrial Engineering and Infrastructure Services

NAICS

Solar Electric Power Generation (221114), Engineering Services (541330), Other Electric Power Generation (221118)

SIC

Electric, Gas & Sanitary Services (4900), Cogeneration Services & Small Power Producers (4991)

akta.pro primary industry

Utility-Scale PV EPC (Engineering, Procurement & Construction) (EUACAGAB)

akta.pro secondary industries

Solar PV Power Plant EPC (Utility-Scale) (EUAEAAAG), Concentrated Solar Power (CSP) EPC (EUAEAAAH), Wind Balance-of-Plant EPC (Crane Pads, Turbine Foundations, Internal Roads) (EUAEADAI), Combined Cycle & Cogeneration (CHP) EPC (EUAEAAAB), Substation & Interconnection EPC (Collector/POI Substations, Switchyards) (EUAEADAC), Electrical Balance-of-Plant EPC (MV Collection, Cabling, Earthing, Lighting) (EUAEADAB), Balance-of-Plant (BOP) & Civil Works for Power Plants (EUAEAAAL)

Keywords

• EPC infrastructure services
• Power generation construction
• Renewable energy projects
• Network maintenance services
• Industrial engineering contracting

Headquarters

HQ city

Madrid

HQ country

Spain

HQ region

Europe

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. EPC Contracts - Integrated Projects: Engineering, procurement, and construction contracts for large-scale infrastructure projects including power generation plants, transmission lines, oil & gas facilities, and environmental infrastructure (desalination, wastewater treatment).
2. Specialized Facilities Services: Installation and maintenance services for electrical, mechanical, data/fiber, control systems, and infrastructure management across multiple sectors.
3. Investment Assets and Concessions: Long-term investments in renewable energy assets, transmission lines, and water infrastructure concessions, typically structured through project finance arrangements. The company develops, constructs, finances, and operates these assets.
4. Networks Infrastructure: Development and maintenance of electricity, gas, water networks and auxiliary services for utility and industrial clients.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

COBRA Group is an industrial engineering and infrastructure services company that develops, constructs, finances, and operates large-scale infrastructure projects across power generation (solar, wind, hydroelectric, combined cycle), electricity/gas/water networks, oil & gas facilities, and environmental infrastructure (desalination, wastewater treatment). The company delivers end-to-end EPC (Engineering, Procurement, and Construction) contracts, specialized facility installations, and long-term concessions for utilities, energy companies, and government clients worldwide.

Product overview

Grupo Cobra is an industrial engineering and infrastructure services company with 80 years of experience operating in 43 countries. The company operates as a diversified services conglomerate organized into four main business areas: Networks (electricity, gas, water, and auxiliary services), Specialized Facilities (electrical/mechanical installations, data & fiber, mechanical assemblies, comprehensive maintenance, control systems, infrastructure management), Integrated Projects (power generation EPC, oil & gas, and environmental solutions), and Investment Assets (concessions and project finance for renewable assets). The portfolio includes multiple subsidiaries including Tedagua (water treatment), Atil Cobra, Cobra IH, Eleia Energia, Humiclima, Maessa Naval, Moncobra, Grupo Procme, and Serpista. The company also maintains active R&D initiatives in renewable energy technologies including concentrated solar power, energy storage, offshore wind, hydrogen production, and AI-based predictive maintenance systems.

Differentiator

Problem solved

Functional benefit

Products and services

• Networks - Electricity

Quantifiable outcome

• 738 km of transmission lines built in Brazil boosting electric supply in three states
• +4 more outcomes

Named customers5 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability5 records

Feature5 records

Partnerships

Nine partnerships are on record, tiered core and minor.

• Green Power TechnologiescoreTechnology or IntegrationCOBRA collaborated with Green Power Technologies as consortium partner/coordinator in the SMART HVDC 2.0 project for development of high-powered electronic converters, HVDC systems and FACTS components. The project was backed by Corporación Tecnológica de Andalucía (CTA) and Agencia de Innovación y Desarrollo de Andalucía IDEA.
• Naturgy Innovahub S.L.coreStrategic or Co-development PartnerPart of the DISTECH2 consortium for development of modular quasi-solid-state photoelectrolyzers for green hydrogen production. DISTECH2 is part of the PERTE (Strategic Projects for Economic Recovery and Transformation) initiative for renewable energies, renewable hydrogen, and energy storage (ERHA), funded through Next Generation EU recovery funds.
• APRIA Systems S.A.coreStrategic or Co-development PartnerPart of the DISTECH2 consortium developing innovative green hydrogen production technology through modular photoelectrolyzers.
• ISFOC S.L.U.coreStrategic or Co-development PartnerPart of the DISTECH2 consortium for development of modular quasi-solid-state photoelectrolyzers for green hydrogen production.
• ETRAcoreStrategic or Co-development PartnerETRA leads the CROSSBOW project consortium with 24 European members including COBRA. The project focuses on shared resources to promote cross-border operation of renewable energies and storage units.
• AYESAminorStrategic or Co-development PartnerCoordinator of the PLUG & CHARGE project for development of electric vehicle charging systems and fleet management solutions.
• MOVELCOminorStrategic or Co-development PartnerPartner in PLUG & CHARGE project for electric vehicle charging solutions and fleet management.
• GAMMA SOLUTIONS, MARLE, AUSCULTIA, GESTIONA GLOBALminorStrategic or Co-development PartnerConsortium partners in TRIBAR project for biomass solar micro-trigeneration system development.
• SET, TEKNICAM, ASELCOMminorStrategic or Co-development PartnerPartners in SGDCENTER project for modular and monitorable data center development, co-financed by CDTI and FEDER.

Scale indicators10 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Técnicas Reunidas: Spanish EPC contractor specializing in oil & gas, refining, and power generation projects worldwide. Overlapping EPC capabilities, customer base (national oil companies, utilities), and project finance structures make it a directly comparable peer, though with stronger oil & gas tilt than COBRA.
• Abengoa: Spanish engineering and renewable infrastructure group historically focused on solar (CSP, PV), transmission, and water concessions. Closely comparable to COBRA in technology stack (Andasol-class CSP, utility-scale PV), customer base (utilities and public sector), and integrated EPC-plus-concession model.
• SENER Grupo de Ingeniería: Spanish engineering group with renewable energy (CSP, wind), power, and infrastructure capabilities. Comparable in proprietary CSP technology development (SENER developed early Andasol concepts) and cross-sector infrastructure EPC execution.
• Acciona Energía / Acciona Infrastructure: Spanish conglomerate with major renewable generation and EPC/infrastructure businesses. Directly comparable to COBRA in wind and solar development, water infrastructure (Acciona Agua), and Latin American project exposure, though Acciona is more asset-heavy on the power generation side.
• TSK Electrónica y Electricidad: Spanish EPC firm focused on power plants (combined cycle, solar, biomass), electrical installations, and industrial maintenance. Direct competitor in COBRA's core combined-cycle and specialized facilities segments.
• Sacyr Industrial / Sacyr Concesiones: Spanish infrastructure and concession group with power, water, and industrial EPC activities. Overlaps with COBRA's environmental/water (desalination, wastewater), transmission, and concession business model across Spanish-speaking markets.

Regional players

• Maire Tecnimont: Italian-headquartered EPC contractor serving oil & gas, petrochemicals, and power generation globally. Comparable in integrated EPC capabilities and project finance structuring, though primarily operates from a European base outside COBRA's strongest Spanish-speaking market footprint.

Broad incumbents

• Ferrovial Construction / Ferrovial Energía: Large Spanish infrastructure conglomerate with growing renewable energy vertical. Comparable in EPC scale and global footprint, though Ferrovial's broader portfolio (toll roads, airports) and larger balance sheet position it as a broader incumbent rather than a focused EPC peer.
• Masdar / EDF Renewables: Large renewable energy developers with utility-scale solar, wind, and emerging hydrogen portfolios. Comparable in scale of utility-scale PV project execution and geographic reach into emerging markets where COBRA operates (Middle East, Latin America, Africa).
• ACS Group / Cobra Servicios affiliate (historical): Major Spanish infrastructure and services conglomerate. Historically associated with COBRA via industrial services consolidation; comparable across diversified EPC, concession, and renewable energy infrastructure activities, though ACS is far larger and more diversified.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInes.linkedin.com/company/grupo-cobra

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries9 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about COBRA Group