Latest news with #EnriqueRiquelme
Zawya
29-05-2025
- Business
- Zawya
Dubai's AMEA Power, Spain's Cox to set up JV to develop water, power projects
Spanish water and energy company Cox and Dubai-based renewable energy producer AMEA Power have agreed to establish a joint venture to develop, execute, and manage strategic water and energy infrastructure projects across the Middle East, Africa, and Asia. 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) (
Zawya
28-05-2025
- Business
- Zawya
Cox, AMEA Power launch water alliance ventures
Cox, a global leader in water and energy, and AMEA Power, one of the fastest-growing renewable energy companies in the Middle East and Africa, have joined forces to establish a Joint Venture focused on developing, executing, and managing strategic water and energy infrastructure projects across the Middle East, Africa, and Asia. The Joint Venture brings together Cox's extensive experience and strong global market positioning with AMEA Power's leadership in the energy sector, creating a powerful alliance to develop integrated infrastructure projects where access to water and energy are deeply interconnected. By combining their technical, operational, and financial capabilities, both companies aim to address critical resource challenges in regions with rapidly increasing demand. This partnership builds on the existing relationship between Cox and AMEA Power. As an anchor shareholder, AMEA Power holds a 3.76% stake in Cox, acquired during Cox's IPO in November. This investment represents a long-term commitment and provides strategic support to Cox's growth and development plans. Enrique Riquelme, Executive Chairman of Cox, said, "This Joint Venture represents a critical step in Cox's growth strategy, emerging from an integrated vision that combines water and energy solutions to tackle the most pressing challenges and meet the demands of markets in the Middle East and Africa. Through this partnership, 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." Hussain Al Nowais, Chairman of AMEA Power, stated, "We are proud to partner with Cox in establishing this Joint Venture, a strategic alliance that brings together AMEA Power's expertise in renewable energy and Cox's leadership in water solutions. This partnership underscores our shared commitment to sustainable development and improving access to essential resources across Africa, the Middle East and Asia. It also reflects our continued support for Cox's growth and sustainability initiatives in these key regions.'
