Cox, the global integrated water and energy utility, has signed an agreement with the Government of the Republic of El Salvador to drive an investment program estimated at USD 2.9 billion.

A Landmark Agreement at Casa Presidencial

The deal, signed at Casa Presidencial on October 14, 2026, was executed by the President of the Republic of El Salvador, Nayib Bukele, and the Executive Chairman of Cox, Enrique Riquelme.

The program will develop and modernize strategic water and energy infrastructure in the country. The agreement is built around four strategic partnerships covering energy storage, solar photovoltaic generation, natural gas, and water and sanitation management.

It represents a further step in Cox's growth strategy in Latin America and strengthens the company's model as an integrated business capable of developing, financing, building, operating, and maintaining critical water and energy infrastructure.

Financing Structure and Timeline

Under the agreement, and subject to the relevant approvals and the execution of specific agreements, Cox will structure the financing of the projects through project finance schemes, with the participation of international financial institutions, multilateral organizations and export credit agencies. In the energy segment, the State is expected to take part as a partner.

Cox will also develop, build, operate, and maintain the projects. The work is to be carried out over the next three years, with the relevant approvals expected to be completed in the coming weeks, along with progress on the specific agreements.

Energy Storage and Solar Generation

In the energy storage component, the agreement provides for battery systems connected to the national power grid, with an estimated initial capacity of between 440 and 500 MWh, expandable to 1,000 MWh.

According to the company, these facilities will help make the power system more stable and allow more renewable energy onto the grid. The partnership also includes two solar photovoltaic plants, to be developed together with the Lempa River Hydroelectric Executive Commission (CEL).

Their estimated initial capacity is 200 MW, expandable to 400 MW.

Natural Gas Terminal and Combined-Cycle Plant

The agreement further includes a liquefied natural gas (LNG) regasification terminal and a combined-cycle power plant of approximately 380 MW.

This infrastructure is intended to increase generation capacity and help position El Salvador as a regional energy hub.

Water and Sanitation Improvements

Finally, the agreement includes measures to improve water and sanitation management, expand coverage, and raise service quality.

In these areas, Cox will bring its experience as an international operator of water infrastructure.

Commitments From Both Sides

Enrique Riquelme, Executive Chairman of Cox, said, "Our commitment to El Salvador and Latin America is a long-term one. We will put our experience as a water and energy utility at the country's service to strengthen its power system, add more renewable energy, and improve water service. With the natural gas terminal, El Salvador will become the region's benchmark and its most important energy hub. We thank President Bukele and his Government for the trust they have placed in Cox."

President Nayib Bukele stated, "This agreement allows us to attract international investment for cleaner and more reliable energy, as well as the technical support needed to guarantee a quality water supply, without committing new public funds and with clear rules."

The agreement is part of the Government of El Salvador's program to modernize the country's energy and water infrastructure, which also aims to establish El Salvador as an investment destination in the region.

Latin America as a Strategic Priority

The partnership with El Salvador strengthens Cox's commitment to Latin America, a region that accounts for approximately 95% of the company's activity. Cox has an investment plan in the region of more than USD 7 billion in strategic water and energy projects.

The agreement adds to other major projects the company has recently launched in the region, including the Rosarito desalination plant, the acquisition of Iberdrola México, new renewable generation and storage projects in Central America, and the expansion of its power transmission platform in Brazil.

Cox runs its regional platform for the Americas from Panama, which brings management and decision-making closer to its main markets, projects, financial partners, and institutions.

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