Cox

Cox / Cox advances in Brazil in the development of a strategic pow...

Cox advances in Brazil in the development of a strategic power transmission line project

  • The work at height, the assembly of 1,880 towers and the laying of 14,500 km of conductor cable, make this project a great challenge for the company. 
  • Thanks to this project, it will be possible to optimize execution times, reduce costs and minimize environmental impact. 

 

As a sign of its ability to find opportunities, where others see only barriers, Cox continues to make successful progress in Brazil in the development of a strategic electric infrastructure project, which will contribute to the expansion and modernization of the Brazilian electricity system. 

 This electricity transmission project, a benchmark in the country, includes the execution of the Paracatu 4 and Nova Ponte 3 substations, as well as the LT 500 kV Arinos 2 – Paracatu 4 – Nova Ponte 3 transmission line, with a total of 947.5 km. Construction began in April 2024 and has generated the hiring of approximately 2,500 workers to date. ​  

It is a large-scale project, which requires work at height and presents great challenges that Cox is facing through the application of innovative and sustainable measures, in line with the group’s business strategy which, with its activity, is moving towards the decarbonisation of the planet.  

It is worth highlighting the logistical challenge involved in the execution of the civil works, the assembly of 1,880 towers and the laying of 14,500 km of conductor cable. In addition, the project incorporates the so-called CICA (Composite Insulated Cross Rope) technology, which is assembled from insulators and replaces the original steel cable and insulator chains with a horizontal design. This methodology represents a key advance that, among other improvements, manages to optimize the execution times of the work, reduce costs and minimize the environmental impact, reducing, for example, the weight of the towers, among other technical improvements. 

 In October 2024, Cox announced the assembly of the project’s first self-supporting tower, a milestone that reaffirmed Cox’s strategic commitment to Brazil, where our company has been a key player in the development of energy infrastructure for more than 25 years. 

 Currently, the project is progressing successfully, even managing to anticipate the planned work deadlines, both in the substations and the transmission lines. The horizon is set on September 2025, when the project is expected to be completed, and it will enter into commercial operation.  

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Luis Arizaga Zárate

Independent Director

Member of the Audit Committee

Date of appointment: September 17, 2024

Shareholding in Cox Abg Group, S.A.: 11,514 shares

Partner of Exus Management Partners (Exus) and GenuX Power, a global renewable energy platform with offices in nine countries, managing 11GW of installed capacity, including 2.6GW in Mexico between wind and solar energy projects. Holds a Master of Business Administration (MBA) from the Leonard N. Stern School of Business at NYU in New York, and a bachelors degree in Accounting and Finance from ITESM in Mexico.

Prior to joining EXUS in 2019, he founded EIRA Capital, an investment platform focused on Energy and Infrastructure transactions in Mexico, and Latin America. He was also part of Australia’s Macquarie Group in Latin America, where he spent more than 7 years in the Macquarie Capital and Macquarie Funds divisions, working on fund capital raising, equity investments, asset management activities, as well as third party advisory roles on energy and infrastructure transactions in Mexico and Latin America. During his years at Macquarie, he also held board positions in the several investments made by Macquarie which covered energy, public private partnerships, roads, and telecom companies. In addition, his previous involvement at financial institutions include positions in the investment banking teams of Deutsche Bank’s M&A group in New York, and Citibank’s M&A group in Mexico.

Other former relevant positions include his role as independent member of the investment committee of the Instituto del Fondo Nacional de la Vivienda para los Trabajadores (Mexican mortgages and housing government agency).

Enrique Riquelme Vives

Presidente Ejecutivo

Fecha de nombramiento: 17 de septiembre de 2024

Participación en el capital social de Cox Abg Group, S.A.: 50.601.230 acciones

COX

Presidente Ejecutivo de Cox, tras iniciar su andadura profesional en el sector inmobiliario y de la construcción, en 2010 fundó Grupo El Sol en Panamá, especializado en operaciones de minería, cemento, infraestructuras y energía. Con el tiempo, la empresa se convertiría en el mayor proveedor de arena de la UTE responsable de la ampliación del canal de Panamá. Posteriormente, pasó a liderar las fases de oferta y desarrollo de Rainbow 50: el proyecto fotovoltaico de mayor envergadura ejecutado en América Latina hasta aquel momento.

Ha recibido varios galardones por su contribución al mundo empresarial en España, entre ellos el Premio del Certamen Nacional de Jóvenes Emprendedores 2018. También ha sido distinguido como uno de los «100 latinos más influyentes comprometidos con la acción climática» y uno de los «100 españoles más creativos del mundo de los negocios» según la revista Forbes. Actualmente, es miembro del Consejo Internacional de la San Telmo Business School y preside el Consejo Asesor de la Fundación Scholas para Panamá, Centroamérica y Caribe.