Cox Reports Positive Results: The Week in Energy

Cox President and CEO, Enrique Riquelme, described Mexico as a pivotal milestone in the group’s international roadmap, highlighting that the pending Iberdrola México transaction would elevate the company to a new operational and financial dimension.

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Iberdrola México Purchase Strengthens Cox

Cox reported a net profit of €69 million (US$81.332 million) in 2025 and is moving toward the closing of its acquisition of Iberdrola México in March, a transaction that will reshape the company’s scale and consolidate Mexico as one of its core strategic markets. The results, published by the Spain-based water and energy utility, reflect a year of strong operational performance and accelerating international expansion, underpinned by predictable cash-generating assets and a reinforced balance sheet.

H2Mexico Marks 5 Years, Backs Green Hydrogen Push

The Mexican Hydrogen and Energy Transformation Association (H2Mexico) marked its fifth anniversary, underscoring the expansion of the renewable hydrogen industry in Mexico as the country advances a broader restructuring of its energy model. Israel Hurtado, President, H2Mexico, said the organization’s growing relevance reflects a shift from the concept of an “energy transition” toward a more structural transformation of the national energy system. In his view, the notion of transition suggests a temporary phase, whereas current challenges require redesigning the energy framework to ensure competitiveness, energy security and long-term sustainability.

Hurtado pointed to Mexico’s electricity generation mix, noting that nearly 70% of power production relies on natural gas, much of it imported. This dependence, he said, exposes the country to external supply risks and international price volatility, with implications for energy sovereignty and economic stability.

Maxion Wheels Adds 499kW Solar in San Luis Potosi

Maxion Wheels has commissioned a new on-site solar photovoltaic system at its steel wheel manufacturing plant in San Luis Potosi, with an installed capacity of 499kW. The system, supported by 1,073 photovoltaic modules, is expected to generate approximately 919MWh of renewable electricity annually. 

Developed by Iberdrola México, the installation represents the ninth solar project implemented by Maxion Wheels globally. According to company data, the project will prevent the emission of about 617tCO₂ per year. Maxion Wheels said this reduction is equivalent to the carbon captured by more than 10,200 trees over a 10-year period.

Mexico Tightens Social Impact Rules for Energy Projects

Mexico has enacted a revised regulatory framework governing how energy projects evaluate and manage their social impacts, introducing tighter methodological standards, clearer developer obligations and stronger compliance mechanisms. Issued by the Ministry of Energy (SENER) and published in the Official Gazette of the Federation (DOF), the updated Administrative Provisions replace the 2018 rules and redefine the role of the Social Impact Assessment.

The regulation seeks to transform the assessment from a procedural requirement into a structured planning and risk management instrument. Authorities aim to improve regulatory certainty, reduce inconsistencies in filings and ensure that mitigation, compensation and community benefit commitments are measurable and enforceable.

Transition Industries Secures Gas Deal for Pacífico Mexinol

Transition Industries LLC signed a long-term natural gas supply agreement with CFEnergía, a subsidiary of Mexico’s CFE, securing a key feedstock for the Pacífico Mexinol methanol project near Topolobampo, Sinaloa. Under the contract, CFEnergía will supply approximately 160MMcf/d of US-sourced natural gas at market-based prices. The agreement enables the project to move into its construction phase and supports a targeted start-up window between late 2029 and early 2030.

Pacífico Mexinol, a subsidiary of Transition Industries, is designed to produce approximately 1.8Mt/y of blue methanol and 350,000t/y of green methanol, for a combined annual capacity of roughly 2.1Mt, equivalent to about 6,130t/d. With total investment exceeding US$3.3 billion, the facility is positioned to supply ultra-low-carbon methanol to domestic and international markets, particularly in Asia.

Popular Power Unlocks Over US$500,000 in I-REC Revenue

Popular Power manages a large portfolio of distributed solar systems through its data analytics, performance monitoring and revenue-governance platform. According to the company, the clean energy managed on behalf of its partners generates the equivalent of annual electricity consumption for roughly 200,000 households, illustrating both the scale of distributed solar deployment and its potential to contribute to Mexico’s overall renewable capacity.

A core function of the platform is enabling smaller solar portfolios to register and trade I-RECs. These certificates represent the environmental attributes of 1MWh of renewable electricity and are increasingly bought by corporations seeking to match their electricity consumption with renewables. The I-REC market was dominated by utility-scale projects, and distributed generation systems often lacked the data governance and verification processes needed to participate. Popular Power’s technology automates site-level and portfolio-level analytics, correlates production data with registry requirements and prioritizes alerts that affect revenue, substantially lowering the operational barrier for I-REC participation.