• In Brazil, Cox has been awarded a 30-year concession with an investment estimated by the company at 396 million Brazilian reais (€64.5 million), and estimated cumulative nominal regulated revenues of 1.941 billion Brazilian reais (€316 million), including the adjustments envisaged over the operating period. The project is expected to create more than 1,300 jobs.
• In Chile, Cox’s financial bid has been selected to develop two new substations and a 12.57-kilometre transmission line, involving an investment of US$50 million (€44.5 million) and estimated cumulative nominal regulated revenues of US$145 million (€130 million) over 20 years of operation.
• The new awards consolidate Cox’s growth strategy in regulated infrastructure and assets capable of generating recurring long-term revenues, with a combined estimated investment of close to €109 million.

Madrid, 4 November 2026. Cox, a global integrated water and energy utility, has been awarded two new electricity transmission projects in Brazil and Chile, strengthening its presence in Latin America and expanding its activities in the development and operation of long-term energy infrastructure. Both projects will enable Cox to expand its portfolio of transmission assets in two strategic markets for its growth in the region. The two projects represent a company-estimated investment of close to €109 million and estimated cumulative nominal regulated revenues of more than €440 million, including the adjustments envisaged over their respective operating periods.

 A new 30-year concession in Brazil

Through its Brazilian subsidiary, Cox has been awarded Lot 6 in the latest electricity transmission auction, held on 30 October by Brazil’s National Electric Energy Agency (ANEEL). The project involves an estimated investment of 396 million Brazilian reais (€64.5 million), and the facilities are expected to be commissioned within 42 months.

The award includes a 30-year concession, with an initial permitted annual revenue (RAP) of 37.85 million Brazilian reais (€6.2 million), which will remunerate the availability and operation of the facilities once they enter service. Over the estimated operating period of the concession, Cox expects cumulative nominal regulated revenues, including the envisaged adjustments, of 1.941 billion Brazilian reais (€316 million). The project is expected to create more than 1,300 jobs.

The project comprises the construction of the new Iguaçu electrical substation, with a transformation capacity of 900 MVA, as well as approximately four kilometres of connections to existing transmission lines. The infrastructure will be located in Santa Terezinha de Itaipu, near Foz do Iguaçu, and will strengthen the capacity, security and reliability of electricity supply in the western and southwestern regions of Paraná.

This award continues Cox’s growth in Brazil, where the company has more than 2,500 kilometres of transmission lines at various stages of development and seven substations across six states, in addition to two concessions awarded in 2024. Last September, Cox commissioned a new 104-kilometre transmission line in the state of São Paulo, with an investment of approximately €62 million. The infrastructure entered service 24 months ahead of the original schedule.

Cox expands its operations in Chile

 In Chile, the financial bid submitted by Cox has been selected as the winning bid for Group 3 of the tender for new transmission works associated with Exempt Decree No. 354/2025 of the Ministry of Energy. Located in the Coquimbo Region, the project comprises the construction of the new Los Boldos and Panul substations, which will be connected by a 12.57-kilometre double-circuit transmission line. The new Panul substation will have a minimum capacity of 80 MVA per circuit. The facilities will help strengthen supply capacity and facilitate future connections in the Coquimbo area.

Cox estimates the investment at US$50 million (€44.5 million). The bid provides for an initial annual transmission value per section (VATT) of US$5.087 million (€4.6 million), and Cox estimates cumulative nominal regulated revenues of approximately US$145 million (€130 million). The maximum construction period is 54 months from publication of the award decree. The winning bid must undergo review by the National Energy Commission before being formalised through the corresponding decree issued by the Ministry of Energy.

Enrique Riquelme, Chairman of Cox, said: “These awards strengthen Cox’s position as a developer, investor and operator of essential electricity infrastructure in Latin America. Our priority is to combine industrial capabilities, investment discipline and operational excellence to develop assets that enhance system security and create sustainable long-term value.”

A growing regional platform

The new projects expand Cox’s transmission platform in Latin America and complement the assets that the Group already develops and operates in the region. Cox has extensive international experience in the engineering, construction, financing and operation of high-voltage lines and substations. This integrated capability enables the Group to manage both the industrial execution of projects and their long-term operation as regulated assets.