Zelestra has signed an agreement to sell its Latin America platform to Promigas, covering 1400MW of contracted solar and battery storage capacity and a further 2100MW+ of projects under advanced development in Chile, Peru and Colombia.
The company said the move supports its transformation into a customer-centric, multi-technology platform focused on Europe and the US.
Leo Moreno, Zelestra’s chief executive, said: “This agreement represents a major step toward completing Zelestra’s transformation into a customer-centric, multi-technology leader, strategically focused primarily on Europe and the United States. We are very proud of the impact of Zelestra in Latin America over the years and have strong confidence that the team will continue to have a deep impact in the coming years under its new ownership.”
Juan Manuel Rojas, president of Promigas, added: “This acquisition represents a significant step forward in achieving the goals set out in our ‘Our Energy 2040′ strategy, which drives the expansion of our energy solutions portfolio, the growth of non-regulated businesses, and the expansion into new geographies.”
Zelestra stated that its Latin America platform is backed by over 15 years of regional experience and a team of more than 130 professionals.
The closing of the transaction is subject to competition authority procedures in Colombia and Peru and other conditions precedent expected to be completed in the coming months.