July 12, 2024
Companies

Isagen Expands ‘Green’ Energy Portfolio with Luzma Hydroelectric-Plant Deal in Antioquia

Medellin-based electric power giant Isagen revealed in a February 22 filing with Colombia’s Superfinanciera oversight agency that it just signed a tentative deal to buy two smaller-scale hydroelectric plants (39.8 megawatts total capacity) owned by Generadora Luzma ESP in Amalfi, Antioquia

Price wasn’t disclosed as the transaction still must be finalized “in the coming weeks,” according to Isagen.

“This purchase is in addition to recent announcements about the ‘Guajira 1’ wind-power farm and the ‘Llanos 4 and 5’ solar-power farms [all in Colombia], which will allow us to add an additional 100 megawatts of clean energy with a total investment of approximately COP$700 billion [US$195 million], consistent with our strategy growth with renewable sources,” according to the company.

“With this [Luzma hydroelectric purchase] decision, we continue to strengthen our generation matrix, making it more resilient to climate change and contributing to [Colombia’s] energy transition at this key stage for the reactivation of the economy,” the company added.

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