*

Cox plans more than $10 billion in investment in Mexico by

2030

*

Figure includes $4.2 billion acquisition of Iberdrola's

assets

*

Cox will develop new renewable capacity, desalination

projects

MADRID, Aug 7 (Reuters) - Spanish energy company Cox

will focus its new strategic plan on Mexico, where it

envisages more than $10 billion in water and renewable energy

investments by 2030, CEO Nacho Moreno told Reuters.

This figure includes the company's $4.2 billion acquisition

of Iberdrola's assets in the country, a

"transformational" deal that allowed Cox to already reach

targets it had set for 2028, Moreno said.

The new plan is expected to be presented on September 25.

The Iberdrola deal included 15 power plants with 2.6

gigawatts of capacity and an 11.8-GW pipeline of renewable

projects.

Cox will develop at least two or three gigawatts from this

pipeline, Moreno said, and has already identified six

desalination projects it will prioritise, which require an

investment of around $1.5 billion.

"The power demand and the water demand are only growing" in

Mexico, he said. "Through this acquisition, we are extremely

well-placed to capture both."

Moreno expects synergies between Cox's water and energy

operations and its unit offering services like engineering and

operating and management of facilities and infrastructure. The

services unit, for example, will handle engineering for the new

capacity it will develop, he said.

Cox expects the acquisition will more than double revenue

estimates for this year to around 2.7 billion euros ($3.15

billion) and more than triple expected earnings before interest,

taxes, depreciation and amortisation to 720 million euros.

Operating cash flow should rise to around 450 million euros

from around 100 million euros expected previously.

"When you generate $500 million of cash flow, clearly you're

jumping to another league," Moreno said.

The acquisition, 75% of which will be funded with debt and

the rest with equity, will be carried out through a new company

owned by Cox.

Cox will inject capital for the equity, along with two

international investors which will get preferred securities,

Moreno said, declining to name the investors.

For the debt, Cox has secured support from Citigroup ( C/PN ),

Bank of America ( BAC ), Santander, Barclays ( BCS )

and BBVA, he said.

($1 = 0.8573 euros)