Cox signed a new 15-year power purchase agreement with Empresas Públicas de Medellín (EPM) for approximately 115 GWh/year, an agreement that will be backed by a portfolio of photovoltaic solar projects developed by the company in various municipalities in Colombia.
The operation involves an investment of €40 million and is based on assets totaling 58 MWp of installed capacity . The energy will be progressively incorporated into EPM's commercial activity starting in 2027, as the various wind farms become operational.
The contract also provides long-term revenue visibility for Cox and, according to the company, has bankability standards aimed at facilitating portfolio financing.
EPM, one of Colombia's main public energy groups, has an AAA(col) rating awarded by Fitch , an element that reinforces the financial strength of the agreement.
Once all the projects are operational, Cox estimates that the energy associated with the PPA will have the capacity to supply a consumption equivalent to that of around 55,000 homes and avoid more than 45,000 tons of CO₂ per year .
“ This new PPA reinforces our growth strategy in Colombia and consolidates the strength of our renewable energy platform in the country ,” said Martín Sucre Champsaur, regional manager of Arco Central de Cox.
The executive added that the agreement with EPM provides high revenue visibility and confirms the competitiveness of the company's solar portfolio.
Cox has been present in Colombia since 2021 and is currently developing more than 20 photovoltaic projects , combining distributed generation initiatives with larger-scale projects.
Colombia gains importance in Cox's regional strategy
The new PPA is part of Cox's expansion strategy in the so-called Central Arc, which includes Central America, the Caribbean, Colombia and Ecuador.
The company has been strengthening its regional presence through water and energy projects, with new developments in Panama and Guatemala, in addition to larger-scale operations in Mexico.
In the Colombian case, the contract with EPM allows for backing a specific part of its renewable portfolio with a long-term buyer and conditions that favor the financial structuring of the assets.
The move also reinforces one of the central lines of Cox's growth in the region: combining the development of new renewable capacity with long-term supply contracts that provide predictability for investment .
With 58 MWp associated with the agreement and an annual supply of 115 GWh, the operation thus consolidates the company's position in Colombia and expands its exposure to one of the markets it considers priorities within its Latin American expansion plan.