Ecopetrol S.A. Secures Up to 1,300 Megawatts of Solar and Wind Projects in Colombia

Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) has announced that it executed an asset purchase agreement with Statkraft European Wind and Solar Holding, AS on May 20, 2025, for the potential acquisition of its portfolio in Colombia. This portfolio includes one company dedicated to the development and operation of solar and wind assets, six special-purpose entities owning solar projects (614 MW), and three special-purpose entities owning wind projects (750 MW). The agreement is subject to the fulfillment of conditions precedent and other legal requirements, which, once met, are intended to allow Ecopetrol S.A. to acquire the portfolio of up to 1.3 GW.

The companies are owned by Statkraft’s subsidiaries: Enerfín Sociedad de Energía S.L.U and Enerfin Enervento Exterior S.L. The portfolio’s projects are located in the departments of La Guajira, Sucre, Córdoba, Caldas, and Magdalena.

If completed, this acquisition would represent significant progress toward Ecopetrol S.A.’s decarbonization and energy transition goals, particularly the target of incorporating 900 MW of renewable self-generation capacity by 2025, in line with its 2040 Strategy. Additionally, the transaction would support the generation of low-emission energy under competitive conditions for the Ecopetrol Group’s self-consumption, reducing exposure to spot market purchases and contributing to the diversification of the company’s energy matrix.

Photo credit: Ecopetrol/Flickr.