Cox has secured an equity stake in Green Atacama SpA, a company focused on developing sustainable agricultural ecosystems through innovative water resources, including seawater desalination. With this investment, Cox aims to leverage Green Atacama’s assets to produce up to 485,000 cubic meters of desalinated water daily in northern Chile over the coming years.
The initiative’s first phase involves constructing a desalination plant with a daily capacity of 85,000 cubic meters, intended to meet the water demands of local mining operations. This facility is expected to be construction-ready by 2025. Following this, a second plant with a significantly larger capacity of 400,000 cubic meters per day is projected, targeting water supply for nearby agricultural irrigation.
Cox plans to power these desalination plants with energy generated from its 308 MWp Sol de Vallenar photovoltaic plant, complemented by a battery storage system slated for commercial operation between 2026 and 2027. This model, called "Energy Follows Water," underscores Cox's commitment to sustainable water solutions.
Expressing enthusiasm for this venture, Enrique Riquelme, Executive Chairman of Cox, noted, “This investment strengthens our position in the water sector and aligns with our strategic goals. Our extensive expertise in water infrastructure will play a vital role in addressing the region's water needs."
In parallel, Cox is progressing toward an initial public offering, with plans to launch the IPO roadshow in early November. Cox has received commitments from several cornerstone investors, pending regulatory approvals and satisfaction with the prospectus content. Confirmed pledges include:
- AMEA Power: €30 million
- Corporación Cunext: €20 million
- Enrique Riquelme: €15 million
- Alberto Zardoya: €5 to €10 million, based on Zardoya's discretion
Additionally, Attijariwafa Bank has committed up to €5 million, contingent on internal and legal requirements.
With over 55 years of experience, Cox has achieved global recognition in water and infrastructure management. Ranked among the top three plant suppliers worldwide by awarded desalination capacity from 2014 to 2021 by Global Water Intelligence (GWI), Cox remains a leader in deploying competitive, sustainable water solutions. Having delivered over 4 million cubic meters of water per day, Cox continues to contribute to essential water access and economic resilience in regions affected by water scarcity.
