Cox signs 15-year PPA with EPM for 115 GWh of solar annually

Spanish company Cox signed on October 8, 2026 a 15-year power purchase agreement (PPA) with Empresas Públicas de Medellín (EPM) to supply nearly 115 GWh of solar electricity per year in Colombia, with an investment of 40 million euros and a portfolio of 58 MWp, El Economista reported.

The agreement ensures Cox revenue for 15 years with a counterparty rated AAA(col) by Fitch Ratings, a condition the company describes as key to the bankability of the projects, according to Portafolio. Supply will start progressively in 2027, as the facilities enter operation, distributed across several Colombian municipalities. EPM, Medellín's main public utility, integrates the energy into its commercial activity. For Mexico the benchmark matters: Cox acquired Iberdrola México's productive assets and is developing the Rosarito desalination project, so it operates at both ends of the energy bridge. The company concentrates its regional strategy on Central America, the Caribbean, Colombia and Ecuador.

Cox estimates that, with all parks operational, production will cover the equivalent consumption of about 55,000 homes and avoid more than 45,000 tonnes of CO2 per year, according to pv magazine Latam. The company has more than 20 photovoltaic projects in Colombia since 2021, spanning distributed generation and larger-scale plants; in 2025 it closed a 15-year PPA with Terpel Energía for 41 GWh per year and financing with Bancolombia. The contract with EPM includes bankability conditions aimed at facilitating the financial close of the 58 MWp portfolio, spread across several developments and not in a single plant. The economic terms of the contract were not made public: neither Cox nor EPM detailed the price per MWh or the indexation scheme.

The next milestone is the staggered entry into operation of the parks starting in 2027 and confirmation that the connection schedule holds. The 15-year term with a rated counterparty is the format that repeats in bilateral solar contracts in the region, such as those negotiated by private developers in Mexico.

This note was written with artificial intelligence assistance based on verified sources and reviewed by a human editor before publication.