500MW Renewable Development in Colombia
Invenergy, a leading privately-held global developer and operator of sustainable energy solutions, today announced that it has executed a strategic partnership agreement with Empresas Publicas de Medellin (EPM), one of Colombia’s largest public electric utilities, to develop, build, and operate large-scale wind and solar energy projects in Colombia. This partnership combines Invenergy’s renewable development and operational expertise with EPM’s domestic know-how to advance Colombia’s renewable energy transformation.
EPM selected Invenergy after a highly competitive process because of its strong track record of turning development projects into operational assets efficiently and effectively. The partnership is expected to result in nearly 500 megawatts (MW) of new renewable projects in Colombia by 2025.
Invenergy will leverage its expertise in engineering, finance, construction, and operations & maintenance, and EPM will provide power purchase agreements (PPAs) and development support under mutual exclusivity during the partnership. The projects will grow EPM’s portfolio of competitive and sustainable solutions that provide clean energy and benefit their customers.
“Our partnership with EPM represents a significant milestone for Invenergy as we enter the Colombian market and expand our operating footprint in Latin America,” said Michael Polsky, founder and CEO of Invenergy. “EPM is a strong partner with a great reputation, and we are pleased to share this achievement that will accelerate the growth of renewable energy in Colombia.”
“For EPM, renewable energy is a priority, for our commitment to the community to offer services using cutting-edge technologies while keeping in mind efficient pricing and a positive environmental impact,” said Jorge Londoño De la Cuesta, CEO of EPM.
Growing its Latin American presence, Invenergy has opened an office in Medellin and is expanding its team in Colombia. Invenergy operates two projects in Uruguay—La Jacinta Solar Farm (64 MW) and Campo Palomas Wind Farm (70 MW)—and has over 800 MW of projects under construction and in development across wind, solar, storage, and natural gas in Mexico. Invenergy is also developing the 375 MW Energía del Pacifico project in El Salvador.