Organización Terpel has agreed, subject to regulatory approval, to acquire 100% of the 26MWp Pétalo del Norte de Santander I solar plant in northern Colombia.
Climate Fund Managers and Erco Energía said the transaction reflects the maturation of Colombia’s renewable energy market and increasing participation from strategic investors.
The plant in La Esperanza in Norte de Santander generates more than 45GWh of clean energy a year, serving about 32,600 people and avoiding an estimated 13,276 tonnes of CO₂ annually.
The partners said the project began dispatching electricity in August 2025 after Climate Fund Managers invested around USD18m through its Climate Investor One fund.
Pétalo del Norte de Santander I was the firm’s first energy project in Latin America and this sale will represent its first exit in the region.
The project created 270 jobs, 64% of them local, and invested approximately USD125,000 in community initiatives benefiting an estimated 2400 people.
“We are proud to have invested in Pétalo del Norte de Santander I from its development stages,” said Juan Paez, head of Latin America at Climate Fund Managers.
“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 the local communities.”
Paez added that the partners will remain in the area to continue investment in Project Pradera while Pétalo moves into its next phase under Terpel’s stewardship.
Terpel said the acquisition supports its strategy to broaden its energy portfolio and expand its role in renewable generation.