Spanish water and energy utility Cox Group has completed its $4 billion acquisition of Iberdrola Mexico, calling it a perfect strategic fit for the group. The transaction, first announced in July 2025, adds a platform with 2.6 GW of operational capacity across 15 wind, solar PV, combined-cycle, and cogeneration power plants, along with a renewable energy project pipeline of around 12 GW, at various stages of development. The deal brings Mexico’s ‘largest’ private energy supplier to Cox, with over 25% market share, 20 TWh of sales, and more than 500 large customers, it said.
According to the Spanish group, the deal enhances Cox’s scale, execution capabilities, and revenue stability, supported by recurring income and strong cash generation. It also brings over 800 employees into the group, with the existing management team set to be retained. The acquisition, explains Cox, aligns with its strategy to focus on priority regions, positioning Mexico as a central hub for its growth in Latin America.
Spain’s state-owned development finance company Compañía Española de Financiación del Desarrollo (COFIDES) is supporting Navarra-based Enhol in developing the 396 MW Illa Solar PV plant in Arequipa, Peru, set to become the country’s largest solar facility. The project involves over $350 million in investment, with COFIDES contributing $40 million through Fund for Foreign Investment (FIEX) and syndicated financing.
About 80% of the electricity generated by the facility will be sold under a long-term agreement with local energy company Kallpa Generación, ensuring a stable, clean power supply. According to COFIDES, the plant is expected to expand the share of renewable energy in Peru, create over 600 jobs, and strengthen Enhol’s presence in Latin America’s energy sector.
Arequipa’s regional government in Peru says it is the first in the region to promote green hydrogen plants, aiming to position itself as a leader in energy innovation. Supported by high solar radiation and a growing portfolio of more than 20 solar PV projects in the region, the government is backing a green hydrogen project, valued at around $2.5 billion. The project is planned for Santa Rita de Siguas and Matarani and is expected to produce about 80,000 tons of hydrogen annually. For its implementation, 161 hectares in Matarani have been allocated to the industrial component, while the transfer of 5,000 hectares in Santa Rita de Siguas for the energy component is close to completion.
The government stressed that its status as a solar energy hub reinforces its strategic role in national energy security and is attracting several national and international investors. Arequipa Governor Rohel Sánchez Sánchez said the region has a private investment portfolio exceeding $20 billion across sectors, including about $5 billion for renewable energy projects, including green hydrogen initiatives. He added the region could supply around 5% of global green hydrogen demand by leveraging its solar potential and coastal access.
Uruguay’s state utility UTE has announced the start of construction of the Melo Photovoltaic Solar Park in Cerro Largo. It says the project is set to become the country’s largest solar facility with 100 MW capacity and around 140,000 solar panels. The project, developed by TEYMA Uruguay in partnership with Spain’s PRODIEL, includes design, construction, and 2 years of operation and maintenance.
The Melo project represents an investment of over $75 million and is expected to create up to 120 jobs during construction. Once completed, the plant will supply electricity for up to 65,000 homes and feed power into Uruguay’s National Interconnected System via a new 150 kV substation connection. The launch ceremony was attended by President Yamandú Orsi.
Colombia’s state-controlled oil and gas company Ecopetrol and Canadian Frontera Energy announced the commissioning of the Quifa Solar Farm in Puerto Gaitán, Colombia. The 50.1 MW project, with more than 81,800 solar panels, will generate around 76.1 GWh annually and supply power to Ecopetrol’s Quifa, Rubiales, and Caño Sur fields.
Ecopetrol expects the project to reduce its carbon emissions by over 11,500 tons per year while improving energy efficiency and lowering reliance on fossil fuels for internal power needs. During construction, the solar project created 580 jobs, with most positions filled by local workers, including women. The Quifa Solar Farm is now the second-largest solar project in Ecopetrol’s portfolio. The company positions the facility as a hybrid model integrating renewable energy into hydrocarbon operations.
Ecopetrol says it exceeded its target to add 900 MW of renewable energy capacity for 2025, adding an additional 51 MW to its portfolio. Of the total, 382 MW is operational, 298 MW corresponds to purchases in the Wholesale Energy Market, 50 MW is under construction, and 221 MW in execution. This strategy is aimed at supporting its operations with increasingly competitive and low-emission sources, it added.