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Its part of a total of $316 million earmarked for renewable energy initiatives, the companys chief financial officer, Esteban Piedrahita, told reporters. He also announced plans to establish a $300 million private equity fund for energy projects in Peru. Colombian power company Celsia will invest 1.3 trillion Colombian pesos (US$316 million) in renewable energy initiatives this year, allocating nearly 900 billion Colombian pesos (approximately US$218 million) to solar energy projects, which are expected to generate approximately 300 MW of installed capacity. This was announced at a press conference by the companys financial director, Esteban Piedrahita, who also stated that Celsia plans to allocate approximately 200 billion pesos (approximately US$49 million) to network expansion activities, which are essential to improving the companys service delivery. Another 200 billion pesos will be allocated to capital expenditures (capex) for network replacement, expansion, and modernization. Piedrahita also explained that Celsia is seeking to establish a $300 million private equity fund for energy projects in Peru, based on a contribution of approximately $60 million to that fund. We are inviting investors to contribute another $240 million to reach a capital commitment of $300 million, which would allow us to build a 1,000 MW portfolio in Peru over the next four or five years, stated the companys CFO. Celsia, the energy division of Grupo Argos, operates in Colombia, Panama, Costa Rica, Peru, and Honduras. Headquartered in Medellín, it claims to have invested 1.08 trillion Colombian pesos in its asset management business last year. |
