Cox Energy has been awarded a 38.4 MW project in Guatemala to supply energy. Derived from its participation in the Open Tender PEG 4-2022 in Guatemala convened by the National Electric Energy Commission (CNEE) in the reverse auction modality, 38.41 MW have been assigned for the generation and consumption of solar electricity for 15 years, which represents a commitment of 106.0 GWh/year.
The auction in which the Company participated is part of the Guatemalan government's Generation Expansion Plan (PEG) to promote the energy transition in that country. 48 companies participated in the auction, which submitted bids for a total of 1,500 MW out of 235 MW that were the object of the bidding. Cox Energy participated in the generated power block, which totaled 40 MW, of which the Company won 96.0% to be awarded 38.41 MW.
Cox Energy will supply electricity to the distributors Empresa Eléctrica de Guatemala, SA (EEGSA), Distribuidora de Electricidad de Oriente, SA (DEORSA), and Distribuidora de Electricidad de Occidente, SA (DEOCSA). It is estimated that the generation project for the total amount of energy awarded will begin operations in 2028. The estimated investment for this project will be US$32 million, which will be carried out with its own resources, as well as with the support of financial and multilateral institutions.
