Published by Global Banking & Finance Review®
Posted on May 20, 2025
2 min readLast updated: January 23, 2026
Add as preferred source on GoogleEcopetrol acquires 10 renewable energy firms from Statkraft, potentially adding 1.3 gigawatts to its capacity. The deal marks Statkraft's exit from Colombia.
BOGOTA (Reuters) -Colombia's state-run oil company Ecopetrol said on Tuesday it had signed an agreement with Norway's Statkraft to buy 10 wind and solar energy project development companies.
Ecopetrol Chief Executive Ricardo Roa said the portfolio of projects could total up to 1.3 gigawatts in capacity, which will be used to supply the group's domestic energy needs.
He did not disclose the value of the transaction.
The projects spread across La Guajira, Sucre, Cordoba, Caldas and Magdalena departments. One is currently operational, with some expected to begin operations between 2026 and 2027, while others have no defined start date.
"This transaction leverages the generation of low-emission energy under competitive conditions for Ecopetrol's consumption, reducing energy purchases under bilateral contracts and exposure to energy purchases on the stock exchange," Roa said.
The deal will mark Statkraft's exit from Colombia, said Jose Castellanos, a representative for the company in the country.
The agreement is subject to regulatory approvals and other legal conditions.
In April, Ecopetrol signed an agreement with AES Colombia to acquire 49% of the Jemeiwaa Ka'I wind energy cluster. It is also in the process of acquiring a wind energy project from Italy's Enel .
(Reporting by Nelson Bocanegra; Writing by Natalia Siniawski; Editing by Brendan O'Boyle and Sarah Morland)
Ecopetrol acquired 10 wind and solar energy project development companies from Norway's Statkraft.
The portfolio of projects could total up to 1.3 gigawatts in capacity, which will be used to supply Ecopetrol's domestic energy needs.
Some projects are expected to begin operations between 2026 and 2027, while one is currently operational.
This transaction leverages the generation of low-emission energy, reducing Ecopetrol's energy purchases under bilateral contracts.
The agreement is subject to regulatory approvals and other legal conditions.
Explore more articles in the Finance category
