Cox Energy gets licence to operate in Colombia's wholesale energy market

Mexico City-based solar power producer Cox Energy America SAB de CV (BMV:COXA) said on Wednesday that its subsidiary has secured a licence to operate as an agent in the Colombian wholesale energy market.

Colombia’s wholesale energy market administrator XM enabled Cox Energy Comercializadora to negotiate energy supply and purchase contracts in the local market. This applies to the wholesale energy market, to end and self-consumption users, regulated and non-regulated, and to public energy tender through the centralised system of public announcements SICEP, Cox Energy said.

"We are very happy to have obtained authorization to supply energy in the Colombian market. I am convinced that Colombia has a favorable regulatory framework for renewable energy with high growth potential,” said Cox Energy CEO Jose Antonio Hurtado de Mendoza in a statement released by the company.

“Currently, Colombia’s demand in the Wholesale Electricity Market surpasses 6,300 GWh per month, demonstrating the strong interest for innovative and sustainable energy solutions in the region. This is a key milestone towards achieving the objectives of our business plan,” the CEO added.

As a power producer, Cox Energy currently has no operating solar farms in Colombia. Its pipeline in the country stands at four in-development projects totalling 48 MWp, according to its website.

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