Cox Energy made a strong entrance to the Spanish market, as an Alicante based company led by Enrique Riquelme saw its shares surge after its first week on BME Growth. The stock rose by more than 57 percent relative to the debut reference price and positioned the firm among the market’s most valuable players. After five consecutive sessions, the group focused on developing and operating solar power plants, closing the week at 2.72 euros per share, versus 1.73 euros at the launch. The listing marked a simultaneous introduction to both the Mexican and Spanish markets.
Initial capital investment reached 285 million euros, growing to 448 million as the company climbed to the ninth position in BME Growth by market capitalization. Only a handful of players outpaced it, including General de Galerías Comerciales, GMP Property and other prominent entities in the sector. The group is part of a broader trend of self-consumption and renewable energy projects, alongside companies such as EiDF and Proeduca, owner of the International University of La Rioja.
Cox Energy received public attention as shares moved higher, with insiders and brokers noting that the early valuation appeared to be set below peak expectations and perhaps discounting the potential growth from upcoming projects. The market narrative at the time emphasized a steady stream of fresh investment in renewables amidst a climate of rising interest rates and input costs, which could pressure profits across the sector. Still, optimism persisted about the long-term path for Cox Energy as it expands its portfolio.
Joaquin Robles of XTB weighed in on the early stages, suggesting that while enthusiasm was evident, it may be premature to draw final conclusions. He noted the broader industry challenges, including a difficult macro environment and the possibility of tighter margins for renewable energy producers as input costs fluctuate and financing remains costly. This stance echoed observations about other similar companies on the Ibex 35 during the week, underscoring the need for cautious optimism as the sector navigates a high interest rate environment.
Enrique Riquelme, the executive at Cox Energy, commented that the company is entering this phase with humility and resolve, qualities that define the Cox team and its regional partners in Vega Baja. The market response suggested broad support for Cox Energy’s plans and the belief that the company could accelerate its development timeline. The group has projected significant expansion: an investment target near 3.5 billion euros by 2026, with the aim of commissioning around 5,000 megawatts across Southern Europe and Latin America.
In another strategic development, Cox Energy recently completed the acquisition of assets from a multinational, marking a notable step in its growth trajectory through the resolution of a broader corporate restructuring. The move positions the company to leverage synergies across its operations and fuel its expansion across its key geographic markets. Market observers note that Cox Energy’s entry into BME Growth aligns with a broader push to diversify energy portfolios and accelerate the transition toward renewable power generation.
Overall, the initial market performance reflects a positive reception from investors who weigh the company’s growth prospects against the sector’s risks. While the path ahead involves navigating regulatory environments, financing conditions, and competition from established players, Cox Energy’s strategic moves position it well to capitalize on the accelerating shift toward cleaner energy. The leadership team continues to emphasize a disciplined approach to project execution, aiming to deliver on the promise of increased capacity and improved energy efficiency across its operations. [citation from Cox Energy press materials]