US company Invenergy has formed a strategic partnership with Empresas Publicas de Medellin (EPM) in Colombia to build and operate large-scale wind and solar farms in the South American country totalling almost 500MW.
The partners said the agreement combines Invenergy’s renewables development and operational expertise with EPM’s domestic know-how to advance Colombia’s clean power transformation.
EPM selected Invenergy after a competitive process because of its “strong track record of turning development projects into operational assets efficiently and effectively”, Invenergy said.
The companies said the 500WM of new renewable projects would be built by 2025.
Invenergy will leverage its expertise in engineering, finance, construction and operations and maintenance, while EPM will provide power purchase agreements and development support under mutual exclusivity during the partnership.
Invenergy chief executive and founder Michael Polsky said: “Our partnership with EPM represents a significant milestone for Invenergy as we enter the Colombian market and expand our operating footprint in Latin America.
“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.”
EPM chief executive Jorge Londono De la Cuesta said: “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.”
Invenergy has opened an office in Medellin and is expanding its team in Colombia.
The company operates two projects in Uruguay – the 64MW La Jacinta solar farm and the 70MW Campo Palomas wind project.
It has over 800MW of projects under construction and in development across wind, solar, storage and natural gas in Mexico.
Invenergy is also developing the 375MW Energia del Pacifico project in El Salvador.