Cox Energy América, S.A.B. De C.V., Reports Second Quarter 2021 Results
MEXICO CITY, July 28, 2021 /PRNewswire/ -- COX ENERGY AMÉRICA, S.A.B. DE C.V. ("Cox", "Cox Energy América" or "the Company") (BIVA: COXA*, BMV: COXA*), a Company dedicated to the strategy and development of solar photovoltaic renewable energy projects reports its results for the quarter ending June 30, 2021. All figures included in this report are in nominal Mexican pesos and in line with the International Financial Reporting Standards (IFRS).
For further information, please consult the file annexed to this relevant event. For financial information and its notes, please consult the XBRL format reported in the Institutional Stock Exchange and the Mexican Banking and Securities Commission (CNBV).
- Agreement signed for the acquisition of 40% of Ibox Energy, a PV solar energy company in Spain with a portfolio at different stages of development and attributable capacity of over 4.0 GWp.
- On July 12th, 2021 Cox Energy América began the process for a capital increase through preferred subscription rights for shareholders, with the possibility of accessing new shareholders in a third round. The capital increase is approved for up to 18.5 million shares.
- Sonnedix Cox Energy Chile SpA, a joint venture between Cox Energy América and Sonnedix Chile Holding SpA (JP Morgan) signed a financing agreement with SMBC for development of the "Sonnedix Meseta de los Andes" project, for an estimated US$120mm. The project is currently under construction and includes a PV solar energy platform with a 160 MWp capacity.
- In the Dominican Republic a project under advanced development with an estimated capacity of 162 MWp has been identified, in line with Cox's strategy. The Company is currently negotiating the conditions for the acquisition. The project includes energy commercialization through long-term contracts with operations expected to begin in the second half of 2023.
- "Portezuelo", a new greenfield project located in central Chile with an estimated capacity of 170 MWp, was added to the portfolio, considering battery storage capacity.
- A purchase intent agreement was signed for "RTB" projects in Panama with an estimated capacity of 25 MWp on which construction is expected to start in 2022.
- The Company has a portfolio of 43 projects in different development phases, with 2.17 GWp attributable to the Latin American region.
- In the quarter, an attributable capacity of 156 MWp in different development phases was added, compared to the capacity of the previous quarter's portfolio.
- The communication strategy was strengthened with the creation of the Investor Relations area under Enrique González Casillas as Vice President. Enrique has over 12 years of experience working in public companies in the Investor Relations area. Additionally, Cristian Gastelum Rodríguez joins the team as Director of Financial and Markets Information.
- On July 7th, 2021 Cox Energy América celebrated its first anniversary as a public company, and remains the only company of its kind to be listed in Latin American capital markets. The Company continues to reinforce its process of institutionalization to achieve the goals established in the 2020-2024 Strategic Plan.
José Antonio Hurtado de Mendoza, Chief Executive Officer of Cox Energy América, commented: "During the second quarter of 2021 we continued to drive our 2020-2024 Strategic Plan forward. This allowed us to create a robust project portfolio with over 43 opportunities in different phases of development, representing an estimated total capacity of 2.17 GWp. We are in the process of expanding our presence in Europe with the acquisition of 40% of Ibox Energy, a photovoltaic solar energy generation company in Spain, with an estimated pipeline of 4.0 GWp. Additionally, we strengthened our portfolio in Latin America, signing a financing agreement with Sumitomo Mitsui to develop "Sonnedix Meseta de los Andes", in Chile. This project is already under construction and has an expected capacity of 160 MWp."
He added: "Cox Energy América, is the first company of its kind to be listed in Latin-American markets, which gives us the opportunity to create a unique precedent as an industry model in the region. We are a 100% green company, seeking to operate under the highest Environmental, Social and Governance standards, aiming to leave a lasting legacy due to our sustainable commitment. Lastly, it fills me with pride to be part of a team with such talent, industry knowledge, commitment, and discipline, working continuously to achieve the Company's goals, and always seeking the highest returns for our shareholders."
To download full 2Q-2021 Report (English version)
To download full 2Q-2021 Report (Spanish version)
ABOUT COX ENERGY AMÉRICA
Cox Energy América is a photovoltaic renewable solar energy generation company, listed on the Mexican Institutional Stock Exchange ("BIVA"). COX develops, promotes and operates photovoltaic plants in several Latin American countries, with a presence in Mexico, Chile, Colombia, Guatemala, Central America and the Caribbean. It has a unique portfolio of projects at different stages of development and has identified opportunities to carry out its activity within a sustainable development framework.
DISCLAIMER
This document contains certain statements related to the comprehensive overview of Cox Energy América (COX) regarding its activities to the present day, as well as assumptions and information currently available for the Company. The statements contained herein reflect the current views of COX with respect to future events and are subject to certain risks, uncertainties and assumptions. Many factors could cause future results, performance or achievements of COX to differ from those expressed or implied by such forward looking statements, including, among others, economic or political changes and global business conditions, risks related to the COVID-19 global pandemic impact, changes in exchange rates, the overall state of the industry, changes in demand for photovoltaic energy, raw material costs, the Company's ability to execute commercial continuity plans as a result of the COVID-19 pandemic, among others. COX does not intend nor assume any obligation to update the statements presented in this document.
CONTACT:
Investor Relations
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SOURCE Cox Energy América
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