7 Billion Investment Dollars Arriving in Panama From Cox.

Panama has been chosen by Cox as its new regional hub for the Americas, from where it will coordinate its activities and investments in North America, Central America, and South America. The region currently represents 95% of the group’s business, which plans to allocate more than $7 billion to water and energy infrastructure projects. As part of this reorganization, Cox’s chief executive, Enrique Riquelme, will alternate his residence and activity between Panama and Spain to oversee investments, according to media outlets such as Spain’s El Economista and El Confidencial.

Iberdrola’s Role in the Expansion.

The weight of the American continent within Cox’s structure increased substantially after the acquisition of Iberdrola Mexico’s assets. This transaction significantly increased the size of the business group, maintaining Mexico as one of its priority markets with differentiated asset management. 

Why Was Panama Chosen?

According to the company, the decision is due to Panama’s strategic geographic location and connectivity as a meeting point for international banking, investment funds, and multilateral organizations.  Panama will host the regional platform and the subsidiary Asset Co, responsible for the development, financing and management of assets related to water security, energy and climate adaptation.  In July of this year, Cox obtained a long-term wind power supply contract, following a tender by the Electric Transmission Company, SA (ETESA).  A contract worth over €350 million was agreed upon for a period of 20 years. The complex will have an installed capacity of 68.4 MW distributed across 12 wind turbines, with an estimated generation capacity of 260 GWh per year.