Cox Energy, led by Enrique Riquelme from Alicante, will be highlighted at the forthcoming fair. The company is navigating a path toward listing on BME Growth, with regulatory approval for expanded trading still pending, as the Market Establishment Certificate undergoes the final steps. Newly acquired assets from the multinational Abengoa in Andalusia are also set to join the Mexican market roster for the first time, with trading on BIVA and in Spain anticipated by mid-2020. This strategic move aligns with ongoing regulatory proceedings and aims to broaden investor access in both markets.
The Market Equity Council at BME Growth has confirmed that the Coordination and Integration Committee has satisfied the necessary requirements. The listing is expected to proceed in the near term, provided all prerequisites for Madrid stock exchange inclusion are met.
In line with this approach, Cox Energy’s board has begun the process to contract the shares, with a price of 1.73 euros per share, as determined by an independent appraisal within the approved framework. This reflects a comprehensive valuation of the renewable energy group, estimated at hundreds of millions of euros.
The company is advised by Singular Bank, and the liquidity provision is managed by Gestión de Patrimonios Mobiliarios.
visibility
Enrique Riquelme, chairman of Cox Energy, emphasized the significance of a public listing in Spain in a statement attributed to Cox Energy communications. The move is expected to broaden investor reach and enhance market visibility, delivering greater value to shareholders. Riquelme also noted that Cox Energy possesses the structures needed to operate actively across Mexico and Spain, underscoring the company’s readiness for rapid activity.
The entrepreneur founded Cox Energy in 2015 in Mexico to consolidate renewable energy projects after successfully building a substantial supplier business. The expansion trajectory led to ventures across several Latin American markets, including countries tied to major infrastructure developments such as the Panama Canal, and followed a pivot away from prior Spanish real estate challenges.
Alicante’s Enrique Riquelme’s Cox Energy América advances toward Spain listing
At present, Cox Energy’s portfolio includes 56 photovoltaic projects at various development stages, with a total rated capacity of 4,321 megawatts. Documents filed with the market regulator show that 27 projects account for 1,620 megawatts, with significant activity in Latin American markets such as Chile, Colombia, and Mexico, and 29 additional projects totaling 1,901 megawatts in Spain. The company has also identified investment opportunities totaling 800 megawatts for future development.
Cox Energy entered the Mexican stock market, BIVA, on July 8, 2020, and has previously signaled plans to debut on the Spanish market as early as October 2021. This would mark Cox Energy as the first Latin American enterprise to simultaneously trade on BME Growth and a Spanish exchange.
The listing followed a court decision from Seville Commercial Court approving the award associated with the assets of the former Abengoa subsidiaries in the Andalusian bankruptcy proceedings. Cox Energy won the tender against Urbas and Terramar teams, along with RCP and Ultramar, for a package valued at 564 million euros that encompasses all Abengoa business areas and the ongoing institutional framework of the group.
The court highlighted multiple protective commitments and the creation of a substantial employment and economic impact, with projections of around 9,500 jobs and roughly 3,200 million euros in economic activity anticipated over the next three years. It is noted that Abengoa entities will not be consolidated within the Cox Energy structure as listed entities.
Looking ahead, Cox Energy is on track to become the fifth company to join BME Growth in the current year.