Spain's Cox Energy wins 38.4 MW of solar in Guatemala power auction

Spain’s Cox Energy SAB de CV (BME:COX) said on Thursday that is has been awarded 38.41 MW of solar generation in a reverse power auction in Guatemala.

The company submitted a bid in a block for 40 MW, securing 96% of the capacity in that category. The award represents a commitment to supply 106.0 GWh of electricity annually for 15 years, Cox Energy said.

The off-takers will be Guatemalan power distribution companies EEGSA, DEORSA and DEOCSA.

The solar power producer expects to invest USD 32 million (EUR 29.2m) in the project, using a mix of own resources and funds from financial institutions and multilateral banks. It said that its expects the resulting solar farm to begin full operations in 2028.

The power auction was part of Guatemala’s government generation expansion plan PEG. The government auctioned 235 MW of capacity, but ended up receiving bids for 1,500 MW.

(USD 1.0 = EUR 0.914)

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