On 16 October 2025, Cox, an energy and water utility provider based in Seville, Spain, announced its strategic plans to invest US$6.4 billion in water and renewable energy projects through 2028. Nearly half of this investment is aimed at projects in Mexico. This announcement comes after Cox acquired Iberdrola’s power assets in Mexico for US$4.2 billion on 31 July.
Cox’s investment in Mexico aligns with the country’s major energy and water reform initiatives under President Claudia Sheinbaum. In November 2024, Sheinbaum announced Mexico’s National Water Plan for 2024–2030, which includes a total investment of US$10.1 billion over six years for various water projects. These projects encompass irrigation modernization, river restoration, desalination, and essential infrastructure improvements.
Cox aims to achieve a revenue target of US$7.6 billion by 2028, which would be more than double the company’s forecasted pro forma revenue of US$3.0 billion for 2025.
