Climate Fund Managers and Erco Energía sign agreement for solar plant sale
Published by Abby Butler,
Editorial Assistant
Energy Global,
Climate Fund Managers, a climate-focused blended finance investment manager operating in emerging markets across Africa, Asia, and Latin America, and Erco Energía, a Colombian renewable energy developer, have entered into a share purchase agreement with Organización Terpel S.A., a leading Colombian energy distribution and retail company, for the sale of their respective interests in the Pétalo del Norte de Santander I solar plant (subject to regulatory approvals).
The transaction reflects the continued maturation of Colombia’s renewable energy market and growing participation from strategic investors.
Located in Norte de Santander in the municipality of La Esperanza, Pétalo del Norte de Santander I is a 26.4 MWp solar photovoltaic (PV) facility. The solar plant generates more than 45 GWh of clean energy annually, avoiding an estimated 13 276 tpy of CO2 emissions and serving approximately 32 600 people.
Developed by Erco Energía and Climate Fund Managers, the project began dispatching electricity in August 2025. Climate Fund Managers invested approximately US$18 million in development and construction capital through Climate Investor One, its EU-supported renewable energy infrastructure fund. Pétalo del Norte de Santander I was Climate Fund Managers’ first project to reach operational status in Latin America, and this transaction represents the firm’s first exit in the region.
The project created 270 jobs, 64% of which were filled by local workers, with women representing 30% of the workforce. Approximately US$125 000 was invested in community development initiatives, benefiting an estimated 2400 people in neighbouring communities.
Juan Paez, Head of Latin America at Climate Fund Managers, commented: “We are proud to have invested in Pétalo del Norte de Santander I from development through to commercial operation. Working alongside our partners, we are proud to have delivered a high-quality renewable energy asset that not only fully complies with IFC guidelines but has contributed significantly to improving the living standards of local communities. While we will remain in the area to continue our investment in Project Pradera, we are pleased to see that Pétalo will enter its next phase under Organización Terpel’s ownership.”
For Organización Terpel S.A., the acquisition aligns with its ongoing efforts to broaden its energy portfolio and expand its participation in renewable energy generation.
For more news and technical articles from the global renewable industry, read the latest issue of Energy Global magazine.
Energy Global's Winter 2025 issue
Don’t miss out on our final issue of Energy Global from 2025! The Winter issue begins with a regional report on Africa’s energy future, with articles on topics such as wind turbine components, geothermal drilling & operations and energy storage technology. With contributors including Magnomatics, Flyability, Bachmann electronic GmbH, NOV, and more, don’t miss out!
Read the article online at: https://www.energyglobal.com/solar/27022026/climate-fund-managers-and-erco-energa-sign-agreement-for-solar-plant-sale/
You might also like
RWE doubles wind and solar capacity under construction to 235 MW
RWE has doubled its wind and solar capacity under construction to 235 MW, accelerating its renewable expansion in Italy.