The company is partnering with the Guamal Afro-Colombian Community Council, the Gobernación de Caldas (Governor’s Office of Caldas), CorpoCaldas — the regional environmental authority — and the Alcaldía de Supía (Municipality of Supía) to develop the project. Once built, the installation is expected to deliver approximately 600 kilowatts peak (kWp) of solar generation capacity, benefiting about 2,000 residents across 420 households.

Carlos Andres Moreno, President of the Guamal Afro-Colombian Community Council, said the project gives the community a stake in its own development. “This project represents an important development opportunity for our community and has the potential to make a meaningful difference for our families and future generations. We are proud that Guamal is participating in this initiative, which demonstrates what can be achieved when communities, public institutions and the private sector work together. We believe it can create new opportunities and contribute to a stronger future for our community,” Moreno said.

Omar Ossma, President of Collective Mining, said the community’s organization made it a strong partner for the initiative. “The Guamal community has a strong cultural identity, a well-organized structure and a clear vision for its future. Collective is committed to working alongside communities and institutional partners on practical initiatives that support regional development and create meaningful social, economic and environmental benefits. Building trusted relationships through meaningful participation and collaboration remains central to the Company’s approach in the regions where it operates,” Ossma said.

“This project represents an important development opportunity for our community and has the potential to make a meaningful difference for our families and future generations.” — Carlos Andres Moreno, President, Guamal Afro-Colombian Community Council

Once completed, the project is expected to:

• Provide the community with access to a reliable source of locally-generated renewable energy;
• Reduce household electricity costs and generate revenue from the sale of surplus energy;
• Support local employment and skills development;
• Strengthen community participation in energy planning and management; and
• Reduce emissions associated with conventional electricity generation.

Collective Mining describes the initiative as among the first community energy projects of its kind in Caldas, and says it could serve as a model for connecting other communities to renewable energy solutions.

The solar project adds to Collective Mining’s broader community engagement in Caldas, where the company holds exploration rights to the Guayabales and San Antonio projects near the municipalities of Supía and Marmato. The company has previously published sustainability and ESG reporting tied to its Colombian operations, and Ossma discussed the company’s community strategy in a previous interview with Finance Colombia.

Collective Mining was founded by the team that developed and sold Continental Gold Inc. to Zijin Mining for approximately $1.4 billion USD in enterprise value. The company explores for gold, silver, copper and tungsten in Caldas, where its two projects sit within an established mining camp alongside ten permitted and operating mines. Its flagship project, Guayabales, is anchored by the Apollo system, a bulk-tonnage gold-silver-copper-tungsten deposit where the company continues to expand the high-grade Ramp Zone and test new targets across the property.

Above photo courtesy EPM (Tepuy Solar Park)

The closing of this transaction occurred after the fulfillment of the following conditions:

• The determination made by the Superintendency of Industry and Commerce of Colombia states that the transaction does not generate an undue restriction of competition, so it does not merit objection or conditioning, thus ending the administrative pre-evaluation process.
• The execution of the corresponding amendment to the Hydrocarbon Exploration and Production Contract CPO-09 on February 5, 2025, by the National Hydrocarbons Agency, Repsol, and Ecopetrol, formalized the transfer of the 45% of the participation interest that Repsol had in that agreement in favor of Ecopetrol.

The CPO-09 block is located in the department of Meta, Colombia, in the municipalities of Villavicencio, Acacias, Guamal, Castilla la Nueva, San Martín, Lejanias, El Dorado, El Castillo, and Granada.

This transaction strengthens Ecopetrol’s position in the exploration and production of hydrocarbons in the Llanos Orientales basin. It consolidates its presence in the region as the operator of the Akacias, Chichimene, Castilla, Apiay, Suria, Libertad—Reforma, Pachaquiaro, and Caño Sur fields, among others. Likewise, it reaffirms its commitment to the country’s energy future, highlighting the importance of hydrocarbons as a key resource for developing energy transition projects, ensuring the country’s energy sustainability.

Photo credit: Ecopetrol.

Lorito-1 represents another recent proven well for Ecopetrol as it looks to increase its reserves. (Credit: Ecopetrol)

Ecopetrol (BVC: ECOPETROL, NYSE: EC) has confirmed the presence of heavy crude at its Lorito-1 well in the department of Meta.

The well, located in the municipality of Guamal, is 55% owned by the state-controlled Colombian oil company with the remaining 45% stake held by Talisman Colombia Oil & Gas Ltd, a subsidiary of Spanish giant Repsol.

Lorito-1 sits within the CPO Block-9, which had its first discovery in 2010 and now produces 6,000 barrels of oil per day at the Akacías well, according to Ecopetrol.

As it moves into production — and combined with three recently proven wells that added 2,800 barrels per day — the 2,500-meter-deep well will represent another uptick in oil reserves for a company that averaged 715,000 barrels per day in 2017.

Ecopetrol has greatly expanded its exploration and production investment plan for 2018, expecting to spend up to $4 billion. The company’s production goal this year is between 715,000 to 725,000 barrels per day, the company said in a recent conference call with investors.

“The presence of crude in Lorito-1 confirms the potential of heavy hydrocarbons that exists in this area of ​​the eastern Los Llanos, where we produce around half of the country’s oil, and opens a great opportunity for growth,” said Felipe Bayón, president of Ecopetrol.

The company’s top executive added that “it is satisfying to add another discovery to the ambitious exploration campaign that we are carrying out in Colombian territory to increase the reserves of Ecopetrol and the country.”

The Trogón well will be drilled in a land holding that Ecopetrol obtained when it acquired PIO XII, and as with the Lorito well, its goal is to confirm the potential for further exploration in the area. Currently, Ecopetrol produces 271,000 barrels of oil per day within the department of Meta.

Both prospects are part of a contract between the company and Talisman, a subsidiary of Spanish energy company Repsol, according to Ecopetrol.

The location of the Lorito well has been altered from the company’s original plan at the request of local residents, said the company. Ecopetrol added that it has had 78 meetings with various stakeholders in the area prior to announcing its plans to start drilling.

“These meetings have explained in detail the different prevention, mitigation, and environmental compensation measures that are included in the license that gave Ecopetrol the right to advance the exploratory activities,” said the company in a statement.

Ecopetrol said that it has also partnered with local officials in Guamal to advance conservation and restoration efforts in the Humadea river basin, which has been damaged in the past by oil exploration.