Dubai's AMEA Power, Spain's Cox to set up JV to develop water, power projects
The companies will combine their technical, operational, and financial capabilities to address critical resource challenges in regions with rapidly increasing demand, they said in a joint statement.
AMEA Power holds a 3.76 percent stake in Cox as an anchor shareholder, acquired during the latter's IPO in November 2024.
No financial details were shared on the joint venture.
Cox's current concession portfolio comprises five water assets for up to 945,000 cubic metres per day (m³/day), six energy generation projects and two transmission line concessions. It has delivered more than 8.3 million m³/day in desalination and treatment capacity worldwide.
The company operates under a concession-based business model focused on water and energy, and complemented by engineering, procurement, and operations & maintenance (O&M) services.
AMEA Power's portfolio comprises a project pipeline exceeding 6 gigawatts (GW) and more than 2,600 megawatts (MW) in operation and under construction.
'We aim to develop projects where access to water and energy complement each other, creating new opportunities where both are essential for the sustainable development of communities,' said Enrique Riquelme, Executive Chairman of Cox.
(Writing by P Deol; Editing by Anoop Menon)
(anoop.menon@lseg.com)
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