Asset manager firm Patria Investments has sold 100% of its stake in a 360MW operational solar PV plant in Colombia.
Sold to Colombian energy company Isagen, the Puerta de Oro solar PV project is the first divestment of Patria Infrastructure V, an infrastructure fund solely focused on the Latin American market.
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The solar PV plant, one of the largest in Colombia, along with Enel’s 360MW solar PV plant in the northern department of Atlantic, began commercial operations earlier this year and is located in the central department of Cundinamarca.
More than 511,000 modules were installed at the Puerta de Oro solar PV project, which spans nearly 530 hectares.
José Mestres, Partner, Infrastructure at Patria Investments, said: “Puerta de Oro is a strong example of Patria’s ability to identify compelling infrastructure opportunities and create value by taking projects through the full development cycle. From structuring and financing through to construction, commercial operation and sale, we have helped build Puerta de Oro into a major renewable energy asset that will make a meaningful contribution to Colombia’s energy system for years to come.”
Moreover, Isagen increases its solar PV portfolio in Colombia with the acquisition of the 360MW solar PV plant. The company had previously partnered with independent power producer (IPP) Atlas Renewable Energy to develop, build and operate a 1GW solar PV portfolio in the country. Last year, the companies commissioned the 201MW Shangri-La solar project in the central-west department of Tolima.
The previous Colombian government unveiled a grid expansion plan at the beginning of the year that could unlock 6GW of new renewable energy capacity in the country’s Caribbean region. The project is set to unlock mainly solar PV and wind developments, with an investment of up to US$1.7 billion in grid infrastructure.
