Norwegian Fund Will Invest USD$30 Million in the Colombian Energy Sector

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Date: February 02

This capital will be used to start up 50 new solar power plants in the country.

One of the largest investments that the energy sector in the country will receive this year was announced by the Norwegian Investment Fund, Norfund, and that will serve to accelerate the energy transition at the national level.

This financial institution, which belongs to the Norwegian Government and which provides attention to developing countries, reported on its support to the country so that it continues in its purpose for sustainable development, through the promotion of initiatives that promote renewable energies and that contribute to the care and protection of the environment.

That is why it announced a million-dollar investment in the order of 30 million dollars, with which it seeks to support and accelerate the energy transition in Colombia. This, by strengthening the company Erco Energía, which is on its way to consolidate itself as the leading digital energy company in Latin America, for which they will support the construction of new solar plants in the national territory, with the capacity to generate up to 700 megawatts of power.

“We are very pleased to support Erco Energía in its growth ambitions to supply renewable energy throughout the national territory, both through the grid and through attractive on-site solutions,” said Anders Blom, Vice President of Renewable Energies at norfund.

Juan Camilo López, CEO of Erco Energía, stated that “with these resources the construction of between 35 and 50 medium- and large-scale solar plants will be accelerated, as well as the installation of more solar, electric mobility and energy storage solutions. energy for the industrial, commercial and residential segments”.

This negotiation represents Norfund’s vote of confidence towards the Colombian energy sector, at the same time that it is a manifestation of the good relations that Colombia and Norway have built, where this European nation reconfirms the potential and talent that the country has to develop and build clean energy generation projects.

An investment with long-term projection

Juan Esteban Hincapié, co-founder of Erco Energía, pointed out that with this injection of capital into the company of Colombian origin, it will allow it to consolidate in the next 10 years as the largest leading digital energy company on the continent.

“This investment at the same time will leverage a strategy that will focus on using technology and data to optimize the implementation, generation, commercialization and management of distributed energy resources; likewise, in the medium term, it will offer people clean and reliable energy, which also allows them to generate economic savings to increase their productivity and future growth, ”he said.

It is worth noting that the company that will be supported by this investment from the Norwegian government has brought solutions and services to more than 3,000 users in the country, from the construction of various projects that include both solar energy generation, storage and electric mobility.

Inauguration of Ecopark in Huila

With regard to clean energy, it is important to highlight the recent inauguration carried out by Ecopetrol and AES Colombia, which launched the Brisas solar energy self-generation ecopark, located in the municipality of Aipe, department of Huila.

This structure has an installed capacity of 26 megawatts and an area of 21 hectares, equivalent to 25 soccer fields. It has more than 49,000 state-of-the-art panels with bifacial technology.

The solar complex was built by AES Colombia under a 15-year energy supply contract for Ecopetrol’s operations in Huila. Its operation will reduce CO2 emissions by more than 216 thousand tons during the term of the contract.

“We are accelerating the actions and initiatives in our 2040 strategy with low emission solutions. We have just signed an agreement with Total Eren for the construction of the largest solar park in the country in Meta, we are advancing with wind energy projects, biomass, hydrogen pilots, among others. All these actions point to our goal of net zero carbon emissions by 2050,” said Felipe Bayón, president of Ecopetrol.


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