Mexico City, February 28th, 2022. – COX ENERGY AMÉRICA, S.A.B. DE C.V. (“Cox”, “Cox Energy”, “Cox Energy América” o “the Company”) (BIVA/BMV: COXA*), a company dedicated to the development and management of solar photovoltaic renewable energy projects reports its results for the full year ending December 31st, 2021. All figures included in this report are in nominal Mexican pesos and are in line with the International Financial Reporting Standards (IFRS).
HIGHLIGHTS
The Company’s Strategic Plan for 2022 is mainly focused on achieving a diversified portfolio in Latin America, as well as the rotation of some assets that are at different stages of maturity. At the end of 2021, the total attributable capacity, including identified opportunities, reached 2,317 MWp, with more than 45 active projects.
Total revenue for 12M-2021 was $23.79 million pesos, an increase of 96.9% compared with 12M-2020, mostly driven by the solid performance of the energy sales team in Mexico, which mainly sells energy to the wholesale market, as well as managing energy exchange operations with clean energy certifications.
Cox Energy signed a long-term energy contract in Colombia with the company AIR-E, S.A.S. E.S.P., a leading Grid Operator in the Caribbean region. This contract consolidates Cox Energy’s position in Colombia as a relevant player in the energy exchange market, with energy supply obligations beginning in 2024. The agreement is subject to the execution of the established timeline and current regulations.
The Company obtained a favorable environmental rating for the San Francisco (PMGD) project in Chile, which allows it to start the construction phase. This resolution will advance the consolidation of Cox Energy’s operations with medium-sized distributed generation projects in the Chilean market.
In January 2022, Cox Energy, in a joint venture with Sonnedix, began the initial phases of operation, in compliance with the long-term contract for up to 264 GWh/year of renewable energy for a period of 20 years. The Company advances to comply with international energy tender awarded in 2016, with an operating contract in Chile.
MESSAGE FROM THE CEO
José Antonio Hurtado de Mendoza, Chief Executive Officer of Cox Energy América, said: “During 2021 we made significant progress in our expansion and growth plan despite a challenging global macroeconomic environment. At Cox Energy we continue to seek value creation in all our operations, through a solid and resilient business model, reinforced by our commitment to sustainability. To this end, we are constantly working on strengthening our growth strategy, driven by the business’ fundamentals and the Company’s outstanding professional talent.”
He added: “I would like to honor the hard work of our employees in seeking to strengthen the Company’s operations. By having the best team possible, we anticipate a strong 2022, supported mainly by the search for new growth opportunities and the promotion of strategies for greater profitability. We will continue working to meet the goals set out in our Strategic Plan, with 2022 being a key year for consolidation and achieving our goals“
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Contact Details
Enrique González
Investor Relations
inversores@coxenergyamerica.com