Cox Energy America obtains EUR-30m loan to back solar growth

Solar park in Mexico. Author: Presidencia de la República Mexicana. License: Creative Commons, Attribution 2.0 Generic.

June 14 (Renewables Now) - Mexico City-based solar power producer Cox Energy America SAB de CV (BMV:COXA) announced on Monday that it will receive a EUR-30-million (USD 31.4m) credit facility from Barclays Bank Ireland Plc to support its growth plans.

The credit line has been arranged by the company’s main shareholder, Cox Energy Solar SA, which has subsequently entered into an inter-company deal to lend the same amount to Cox Energy America. The latter acts as the guarantor for the financing.

"This transaction reflects the confidence in our expansion and growth plan, and will make it possible to continue with the execution of our proposed strategies. With this funding, the Company will continue to strengthen its liquidity levels to meet challenges and maximize investment opportunities and returns," commented Jose Antonio Hurtado de Mendoza, CEO of Cox Energy.

Cox Energy is engaged in the development and operation of solar photovoltaic (PV) plants in a number of Latin American countries, including Mexico, Chile, Colombia and Guatemala.

(EUR 1.0 = USD 1.047)

Join Renewables Now's free daily newsletter now!

More stories to explore
Share this story
Tags
 
About the author
Browse all articles from Ivan Shumkov

Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

More articles by the author
5 / 5 free articles left this month
Get 5 more for free Sign up for Basic subscription
Get full access Sign up for Premium subscription
\