Cox Energy América, S.A.B. de C.V., Reports Fourth Quarter and Full Year 2022 Results


Mexico City, February 27th, 2023. – COX ENERGY AMÉRICA, S.A.B. DE C.V. (“Cox”, “Cox Energy”, “Cox Energy América” o “the Company”) (BIVA/BMV: COXA*), a company dedicated to the development and management of solar photovoltaic renewable energy projects reports its results for the fourth quarter and full-year 2022. All figures included in this report are in nominal Mexican pesos and are in line with the International Financial Reporting Standards (IFRS).


  • At the end of 2022, Cox Energy had an active portfolio, at different development and construction stages, of 1,620 MWp. Additionally, the Company contemplates an opportunities portfolio of +800 MWp.

  • During 2022, portfolio management efforts were primarily focused on Chile and Colombia, seeking to consolidate projects that align with the Company’s Strategic Plan. As a result, during 2022, the current portfolio increased by 8 projects and 400 MWp.

  • The Company’s consolidated revenues for the full year of 2022 reached $427.0 million pesos, representing a 17.1x growth compared to the previous year.

  • The financing for the construction of the first six PMGD projects (42 MWp) located in south-central Chile, is expected to be completed during the first half of 2023.

  • During 2022, Cox Energy Suministrador, a subsidiary of Cox Energy America, secured power purchase agreements for 200 GWh to supply clean energy to qualified users. In addition, revenues recorded during the year included the sale of 366k clean energy certificates.

  • Cox Energy entered into a strategic alliance with NG Energy International Corp. to develop, build and operate solar photovoltaic power plants in Colombia. This agreement will strengthen the market presence of both companies and provides an opportunity to expand their project portfolios.

  • Cox Energy is present in all stages of the value chain, from power generation to end-customer sales. Currently, the Company operates a distributed generation portfolio of over 20 MW in the Latin American countries where it has presence.



José Antonio Hurtado de Mendoza, Chief Executive Officer of Cox Energy, said: “Our commitment to delivering sustainable and reliable solutions in the regions where we operate has yielded positive results in 2022, despite a challenging environment marked by high inflationary pressures and regulatory hurdles. We maintain our commitment to focusing on innovation and operational excellence in every project we manage, always in line with our strategic plan.”

And added: “Resilience is a key quality in our corporate culture, and we are proud to have proven its effectiveness during challenging times. We will continue to drive 100% green energy to build a better future for all. In 2023, we will remain focused on business productivity and profitability, leveraging our growth and value generation capabilities.”


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Contact Details

Enrique González

Investor Relations

About the Company
Cox Energy América is a photovoltaic renewable solar energy generation company, listed on the Mexican Institutional Stock Exchange (“BIVA”). COX develops, promotes, and operates photovoltaic plants in several Latin American countries, with a presence in Mexico, Chile, Colombia, Guatemala, Central America, and the Caribbean. It has a unique portfolio of projects at different stages of development and has identified opportunities to carry out its activity within a sustainable development framework.
Forward Looking Statements
This document contains certain statements related to the comprehensive overview of Cox Energy América (COX) regarding its activities to the present day, as well as assumptions and information currently available for the Company. The statements contained herein reflect the current views of COX with respect to future events and are subject to certain risks, uncertainties and assumptions. Many factors could cause future results, performance or achievements of COX to differ from those expressed or implied by such forward looking statements, including, among others, economic or political changes and global business conditions, risks related to the COVID-19 global pandemic impact, changes in exchange rates, the overall state of the industry, changes in demand for photovoltaic energy, raw material costs, the Company’s ability to execute commercial continuity plans as a result of the COVID-19 pandemic, among others. COX does not intend nor assume any obligation to update the statements presented in this document.

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