Ashmore Colombia, a subsidiary of the UK-based Ashmore Group, and its shareholder Patria Investments have agreed to sell Parque Solar Puerta de Oro, a solar photovoltaic (PV) project in Colombia, to energy company ISAGEN.
The financial terms of the deal have not been disclosed.
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The project, with an installed capacity of 360MW-peak (MWp)/300MW-alternating current, is located in Guaduas, Cundinamarca.
The solar PV plant, said to be the largest in the country, is fully operational and supplies electricity to more than 390,000 homes in Colombia.
The Puerta de Oro facility consists of around 511,000 PV modules across 530 hectares (ha). It is connected to the National Interconnected System through a 22.4km, 230kV transmission line.
The project aims to reduce Colombia’s carbon emissions by approximately 370,000t of carbon dioxide per year, supporting efforts to diversify the national energy mix with renewable sources.
Ashmore Colombia said the sale demonstrates its approach to investing in and managing infrastructure assets in the region and noted the ongoing collaboration with Patria Investments during the project’s development and operation.
Ashmore Colombia CEO Juan Pablo Fonseca led the sale process, supported by the portfolio management and investment teams.
Completion of the transaction remains subject to regulatory approval.
Fonseca said: “The sale of Puerta de Oro is a significant milestone for Ashmore Colombia and confirms the merit of our infrastructure investment approach in the country.
“Participating in the development of Colombia’s largest solar asset allowed us to build on our track record in large-scale renewable energy projects and strengthen our relationship with key partners such as Patria.
“Puerta de Oro has set the benchmark for the sector and is a concrete demonstration of our ability to structure, support and successfully execute complex infrastructure assets in Colombia. We will continue delivering on our long-term commitment to develop quality infrastructure in the country and to generate sustainable value for our investors.”
Ashmore Colombia was established in 2009 and operates in Colombia, Peru and certain central American markets.
