Cox Energy says "perfect time" to invest in Mexico despite regulatory overhaul

By Anthony Esposito

MEXICO CITY, June 2 (Reuters) - Spanish solar energy firm Cox Energy believes it is the perfect time to invest in Mexico, its chief executive said, arguing against the "noise" about regulatory changes in the energy sector that critics find detrimental to investments.

In the recent weeks, President Andres Manuel Lopez Obrador's government has moved to give the national power utility, Federal Electricity Commission, more control over the industry, saying private sector contracts were "predatory" and caused high prices.

The government action has upset some of Mexico's principal foreign allies and powerful business associations, with many complaining that the administration is undermining investor confidence by not respecting the terms of agreements.

But Enrique Riquelme, president and chief executive of Cox Energy, said the problem is not so much in the substance of the proposed regulatory changes.

"I think there is a problem of communication rather than content. In the content, there are many things that I agree with," Riquelme said in an interview.

His comments come close on the heels of the firm's America unit saying that it was seeking a regulatory nod from Mexico's banking commission to list on the country's second-largest stock exchange, the Bolsa Institucional de Valores, and raise about $40 million.

The Madrid-based company, founded in 2014 to produce and sell power and gas in Europe and Latin America, has five solar energy projects at different stages of development in Mexico.

Calling it "the perfect time" to invest in Mexico, Riquelme said when you "look at the details not only does it not affect us, it is probably the perfect conditions for our business."

"If we had even the slightest fear of investing in Mexico in the short, medium or long term, I can assure you that we would not have announced that we are going public," Riquelme said. (Reporting by Anthony Esposito; Editing by Arun Koyyur)