Finance Colombia

Fitch Expects LatAm Electric Sector To Remain Resilient Through Pandemic

Fitch estimates 2021 and 2022 revenues and EBITDA to be approximately 9% less than prior estimates, given lower overall demand due to the economic downturn. Post-pandemic capex is expected to follow similar trends in 2020, but increase by 9% in 2021 and 15% in 2022.

Posted On October 29, 2020

, By Loren Moss

Renovatio Launches Colombia’s First Private Renewable Energy Auction

Global renewable energy operator Renovatio Group has had a presence in Colombia since 2013, trading and marketing green energy and related services to environmentally conscious business customers. Now, it is launching the first private renewable energy auction in Colombia,...

Posted On October 28, 2020

, By Loren Moss

Interview: EPM’s SINPRO Labor Union President Olga Lucia Arango Expresses Grave Concerns On Utility’s Leadership, Political Interference

Olga Lucia Arango, the president of EPM's largest labor union does not mince words when she expresses her union's concern over alleged mismanagement and political interference at the Medellín-based multinational utility operator. She has a message for the utility's bondholders,...

Posted On October 8, 2020

, By Loren Moss

Hidroituango spillway photo courtesy EPM

EPM’s Hidroituango: New Report By Independent Geological Engineering Expert Challenges Existing Narrative

This is the abridged version of a new independent technical study of the Hidroituango Hydroelectric Dam project tunnel collapse on Colombia's Cauca River by Canadian geological engineering expert Dean Brox. According to Mr. Brox, serious design flaws and critical decisions led to...

Posted On October 5, 2020

, By Dean Brox

Join Finance Colombia at The Online Hydropower Latin America 2020 Congress

The Online Business Congress and 1-2-1 meetings "Hydropower Latin America 2020" is an international, professional platform, bringing together over 250 C-level executives of hydropower plants, LatAm Ministries of Energy, hydropower companies, investors, EPCs, equipment and service...

Posted On September 3, 2020

, By Loren Moss

EPM Announces Its New Board Of Directors – Light On Corporate Governance Experience

This new board the mayor was able to assemble is notable for not including anyone with deep corporate governance experience or a background running multibillion-dollar international enterprises like EPM. Several nominations with corporate experience by the mayor publicly rejected...

Posted On August 26, 2020

, By Loren Moss

In Deepening Crisis At EPM, Labor Union Demands CEO Explain Private Gym, Luxury Office Remodel Despite Austerity Orders

Adding to the turmoil at EPM (Empresas Públicas de Medellín) since Medellín’s mayor Daniel Quintero took office and appointed CEO Álvaro Guillermo Rendón (above photo), the utility’s primary labor union SINPRO has issued a public demand for information on Rendón’s alleged...

Posted On August 25, 2020

, By Loren Moss

EPM’s Board Drama Continues: 2 More Nominees Reject Mayor Quintero’s Appointment

Luis Fernando Rico, former general manager of another Colombian utility giant, Isagen along with the general manager of Colombian weekly newsmagazine Semana both rejected Quintero’s appointments, joining Claro Colombia CEO Juan Carlos Archila and Grupo Santo Domingo’s Alberto...

Posted On August 25, 2020

, By Loren Moss

Turmoil At EPM Deepens As Colombia’s Human Rights Tribunal Subpoenas General Manager

EPM's General Manager Alvaro Guillermo Rendón has been given 5 days to respond to a subpoena from Colombia's human rights tribunal, which has been seeking information regarding EPM's handling of the remains of conflict victims at its troubled Hidroituango dam.

Posted On August 25, 2020

, By Loren Moss

Financial Entities Suspend “Commercial Relations” With EPM Citing Governance, Credit Concerns

EPM has received notification from local and international financial entities of the suspension of commercial relations, resulting in the reduction of quotas and credit limits in operations such as loans, exchange risk hedges and bank guarantees, after the board of directors quit...

Posted On August 18, 2020

, By Loren Moss