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The transaction includes ContourGlobals 100% stake in the Sochagota plant. ContourGlobal first invested in this asset in 2006, but acquired a majority stake in December 2022, after purchasing the remaining 51% of the equity it did not own. ContourGlobal, a company of the American fund KKR, announced this Monday the successful completion of the sale of its 177 MW Sochagota coal-fired generation plant in Paipa, Colombia, to Inversiones Andinas Diversas SL, part of a Latin American power generation group with a presence in the region for 30 years. This transaction marks a key milestone in ContourGlobal’s commitment to exit coal-fired power generation well before 2027 and accelerate the transition to a cleaner, more sustainable portfolio based primarily on renewable energy. The transaction includes ContourGlobals 100% stake in the Sochagota plant. ContourGlobal first invested in this asset in 2006, but acquired a majority stake in December 2022, after purchasing the remaining 51% of the equity it did not own. Santander and Sumatoria acted as financial advisors to the seller, and Cuatrecasas acted as legal advisor to the transaction. Inverlink acted as financial advisor to the buyer, and Gómez-Pinzón acted as legal advisor to the transaction. |
