Erco Energía, a Colombian renewable energy developer, and Climate Fund Managers (CFM), a climate-focused blended finance investment manager, have inaugurated the Pétalo del Norte I solar power plant in the north of the country with the support of the EU.
The partners have also initiated development funding for the Pradera solar-storage project, advancing their collaboration in Colombia’s renewable sector.
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CFM said these solar-storage hybrid projects are pivotal to expanding and diversifying the country’s renewable energy capacity.
By using EU public funds to derisk projects, the partnership is unlocking larger volumes of private capital.
Pétalo del Norte I, situated between Cesar and Norte de Santander, is CFM’s first project in South America to reach commercial operations.
Developed with Erco Energía and implemented by Andina Solar, this 26.4MW DC fixed-tilt solar photovoltaic plant can generate over 45GWh of clean energy annually.
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By GlobalDataThis prevents an estimated 13,276 tonnes (t) of carbon dioxide (CO₂) emissions each year and supplies power to around 32,600 people.
The plant is interconnected via a 1.2km aerial line at 34.5kV.
During construction, the project created 270 jobs, 64% of which were filled by local workers and women comprising 30% of the workforce.
CFM invested nearly $20m for development and construction through Climate Investor One (CIO), its EU-supported renewable energy infrastructure fund.
The project is supported by a 15-year power purchase agreement with an independent energy trader, ensuring long-term revenue stability.
CFM has also secured $1.5m in development funding from CIO for the Pradera solar-plus-storage plant, located on adjacent land.
Pradera will add 40MW AC of solar capacity and 18MWh of battery storage, making it Colombia’s largest installation of its kind.
Once operational, Pradera is expected to generate over 95.8GWh of clean energy annually, avoid approximately 129,000t of CO₂ emissions, and supply power to nearly 71,000 people.
The Pradera project is forecast to create about 380 jobs during construction and 29 permanent operational roles.
Pradera introduces innovation to Colombia’s energy transition through the deployment of a battery energy storage system (BESS).
The BESS is engineered to help short-term fluctuations in solar output, mitigate grid imbalances, and reduce exposure to the high-cost spot market during dry periods, such as El Niño events.
By delivering more stable and predictable power, Pradera will strengthen grid reliability and facilitate increased adoption of solar energy in Colombia’s national electricity system.
CFM Latin America head Juan Paez said: “Access to capital for climate infrastructure remains one of the main barriers to achieving Colombia’s 2050 net-zero ambition.
“Our partnership with Erco Energía, supported by the European Union, shows how blended finance can help bridge that gap – unlocking investment for projects that strengthen energy security and accelerate the clean energy transition.
“With Pétalo del Norte now operational and Pradera in development, we are building a solar platform that will deliver sustainable growth across the country.”
