• These are 15 distributed generation projects of 1 MW each, with entry into operation scheduled for 2025 and 2026 
• The company has closed a financing agreement with Bancolombia for the first 15 MW 

• The energy generated will be marketed through a 15-year PPA contract with Terpel Energía, an investment grade company 

• The set of plants will produce 41 GWh per year, the equivalent of the electricity consumption of about 23,000 Colombian homes 

• A major milestone for the company in Colombia, where it has been present since 2021 and has a portfolio of more than 150 MWp under development, of which 54 MW are expected to be ready for the start of construction in 2025, reinforcing Cox’s commitment to the Americas as one of its key regions .

Madrid, May 5 2025. Cox,  a water and energy utility, has reached a new milestone in Colombia with the development of 15 solar photovoltaic plants of 1 MW each, some of them already under construction. The distributed generation projects reinforce the company’s commitment to a decentralized, sustainable and inclusive energy model.  

These facilities will be distributed in six key departments for the country’s energy transition: Atlántico, La Guajira, Magdalena, Córdoba, Cesar and Sucre. They are scheduled to enter commercial operation (COD) during 2025 and 2026. 

In this line, Cox has formalized a financing agreement for the first 15 MW with Bancolombia, a leading bank in Colombia, with a presence in Panama, Guatemala and El Salvador, and has signed a 15-year power purchase agreement (PPA) with Terpel Energía, one of the most prominent industrial companies in Colombia, which has investment grade (Investment Grade). 

Together, the projects will generate 41 GWh per year, enough energy to supply more than 23,000 Colombian homes, helping to reduce the country’s carbon footprint and promoting a low-emission economy.  

“Undertaking a new project in Colombia, a country that has enormous potential to lead the growth of renewable energies in the region, represents a new challenge for us that we face by contributing all our knowledge, cutting-edge technology and commitment to sustainability. Once again, we are presented with a new opportunity to achieve the sustainable prosperity for which we have been working every day. Our focus is to move decisively towards a green economy, generating environmental and social benefits,” said Enrique Riquelme, Executive Chairman of Grupo Cox. 

Cox, a key player in America 

Present in Colombia since 2021, Cox actively explores new business opportunities in different sectors. In the field of water, the company seeks to participate in wastewater treatment projects, desalination, drinking water treatment plants (PTAP), as well as in the development of infrastructure for aqueducts and sewerage. 

At the same time, Cox is strongly boosting its presence in the energy sector: it currently has a portfolio of 150 MWp under development, of which 54 MW are expected to reach the RTB (Ready to Build) stage by 2025, reflecting the dynamism and consolidation of its commitment to the Colombian market. To date, there are five projects under construction and another ten are expected to close soon, which will allow it to significantly scale its operating model. The goal is to reach a total of 50 projects under construction and operation by 2026. 

In addition, the group is interested in acquiring projects of up to 20 MWp, expanding its distributed generation model, and leading comprehensive solutions for water treatment, supply and sanitation. 

This development is part of the “Energy Follows Water” strategic model, which seeks to maximize synergies between the water and energy sectors to create value in the communities where Cox operates. In addition to the positive environmental impact, the project will foster local development and the creation of green jobs. According to estimates by the Humboldt Institute, Nature-Based Solutions could generate up to 78,000 direct and indirect jobs in Colombia by 2030. 

With this, Cox reaffirms its role as a key player in the energy transition in the Americas, contributing to a cleaner, more resilient and equitable future for all.