Mexico City, September 21, 2022 – COX ENERGY AMÉRICA, S.A.B. DE C.V. (“Cox Energy”, “Cox Energy América” or “the Company”) (BIVA/BMV: COXA*), the first photovoltaic solar energy company to be listed on a Latin American stock exchange, announces to its shareholders and the general public that it has recently obtained the authorization to operate as an agent in the Colombian Wholesale Energy Market, through its subsidiary Cox Energy Comercializadora S.A.S.
With the granted authorization from XM (Colombia’s wholesale energy market administrator), Cox Energy Comercializadora will be able to negotiate energy supply and purchase contracts in the local energy market. This applies to the wholesale energy market, to end and self-consumption users (regulated and non-regulated) and to public energy tenders through the Centralized System of Public Announcements (SICEP, by its Spanish acronym). Additionally, the Company will be able to participate in the establishment of technical parameters in the National Interconnected System (SIN, by its Spanish acronym) and the National Dispatch Center (CND, by its Spanish acronym).
The Colombian distributor is part of IBERGY, a business division of Cox Energy Group operating in Latin America and Spain, providing solutions to our customers, and participating in all stages of the value chain, including: energy commercialization, distributed generation solutions, operation and maintenance, and asset management. In the Latin American region, IBERGY commercializes energy for clients in Mexico, Colombia, and Chile. It also commercializes energy and is present in the self-consumption business in Spain.
José Antonio Hurtado de Mendoza, Cox Energy’s CEO, commented: “We are very happy to have obtained authorization to supply energy in the Colombian market. I am convinced that Colombia has a favorable regulatory framework for renewable energy with high growth potential. Currently, Colombia’s demand in the Wholesale Electricity Market surpasses 6,300 GWh per month, demonstrating the strong interest for innovative and sustainable energy solutions in the region. This is a key milestone towards achieving the objectives of our business plan.”
He added: “We firmly believe in the Company’s ability to seek opportunities that positively impact the planet. We remain committed to decarbonizing the planet by developing profitable and 100 percent sustainable projects.”
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