Cox Energy scores 45 MW of solar in Colombia's capacity tender

Mexico City-based solar power producer Cox Energy America SAB de CV (BMV:COXA) said on Thursday it had secured 45 MW of solar PV in Colombia’s recent grid capacity allocation round.

The awarded capacity will be distributed between three projects, in which Cox Energy America plans to invest a total of USD 45 million (EUR 42.5m). The company said it would finance the effort with own resources in combination with support from financial and multilateral institutions.

Construction of the solar farms is expected to commence in the first quarter of 2024.

"In the past year, Colombia has become a key country for the Company's expansion and growth strategy, seeking to increase our presence and operations with highly viable and profitable projects,” commented CEO Jose Antonio Hurtado de Mendoza.

Colombia’s mining and energy planning unit UPME this week said it allocated 7,493 MW of grid capacity, most of it to non-conventional renewables -- solar, onshore and offshore wind. Cox Energy America’s three winning proposals were among 147 solar projects totalling 5,774 MW that secured grid capacity.

(USD 1.0 = EUR 0.944)

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