BOGOTA (Reuters) -Colombian state-run oil company Ecopetrol said on Tuesday it agreed to buy 10 wind and solar energy project development companies from Norway's Statkraft, in an exit from the Andean
Ecopetrol Acquires Renewable Energy Projects from Norway's Statkraft
BOGOTA (Reuters) -Colombian state-run oil company Ecopetrol said on Tuesday it agreed to buy 10 wind and solar energy project development companies from Norway's Statkraft, in an exit from the Andean country.
Ecopetrol Chief Executive Ricardo Roa said the portfolio of projects could total up to 1.3 gigawatts in capacity, which will be used to supply Ecopetrol's domestic energy needs.
He did not disclose the value of the transaction.
Local Statkraft representative Jose Castellanos said the deal would mark the firm's exit from Colombia.
Statkraft, which is owned by the Norwegian state and is a major European renewable energy producer, last October had announced that it would sell assets in India, Croatia and the Netherlands as it focused investments on fewer markets.
Its projects in Colombia span the La Guajira, Sucre, Cordoba, Caldas and Magdalena departments. One is currently operational, some expected to begin operations between 2026 and 2027, while others have no defined start date.
Ecopetrol said in March that it expected to raise up to $2 billion in additional debt this year to finance non-organic investments.
The agreement is subject to regulatory approvals and other legal conditions.
In April, Ecopetrol signed an agreement with AES Colombia to acquire 49% of the Jemeiwaa Ka'I wind energy cluster. It is also in the process of acquiring a wind energy project from Italy's Enel.
(Reporting by Nelson Bocanegra; Writing by Natalia Siniawski; Editing by Brendan O'Boyle, Sarah Morland and Leslie Adler)
