S'abonner

Celsia sells production assets in Panama and Costa Rica to EnfraGen

Celsia is selling power generation assets in Panama and Costa Rica to Fontus Spain for $194 million to further its renewable energy strategy. EnfraGen, the buyer of the assets, will continue to expand its energy and infrastructure projects around the world.

Share:

Celsia, the energy company of Grupo Argos, recently reached an agreement with Fontus Spain, a subsidiary of EnfraGen, for the sale of some of its power generation assets in Panama and Costa Rica.

Celsia sells its hydroelectric assets to focus on renewable energy in Panama

This agreement includes the sale of the 118 MW Dos Mares hydroelectric complex in Chiriquí, two solar farms and the 50 MW Guanacaste wind power plant. The value of the transaction is US$194 million and the closing process is expected to take approximately three months.

With the proceeds from the sale, Celsia plans to pursue its strategy focused on renewable energy, particularly solar and wind power, and will seek opportunities to strengthen its asset management and energy efficiency portfolio in Panama and other countries in the region. The sale will also reduce consolidated debt by US$198 million, which is the debt of these businesses.

EnfraGen strengthens its energy portfolio by acquiring assets from Celsia

Celsia executive Ricardo Sierra said the sale of these assets will improve the company’s financial flexibility and, in doing so, its profitability indicators will improve significantly. He added that this healthy rotation will allow the company to develop a different approach to geographic diversification, seeking the development of “greenfield” projects.

EnfraGen, the buyer of these assets, is a privately held company that operates energy and infrastructure projects around the world. In January 2023, it acquired a portfolio of small hydroelectric plants in Chile totaling 13.6 MW from Invercap SA. This portfolio consists of four natural flow facilities in southern Chile.

Thus, the agreement between Celsia and Fontus Spain is an important step towards the development of renewable energy in the region, especially solar and wind energy. With the sale of its power generation assets, Celsia will be able to improve its financial flexibility and profitability, while EnfraGen continues to expand its energy and infrastructure projects around the world.

  • Populaires ​
ShaMaran suspends production after explosion at HKN-operated site
US natural gas production to hit historic high in 2025
China urged to strengthen its nuclear regulator to keep pace with growth
Washington considers tariffs on solar-grade silicon and drones
TNB, Petronas and Terengganu Inc launch green hydrogen hub and hybrid solar in Malaysia
Eco Wave Power receives €2.45mn from EU to deploy wave energy
Eco Wave Power Global AB joins a consortium funded with €2.45mn by the European Interreg Atlantic Area programme to accelerate commercial implementation of wave energy technologies in Atlantic coastal regions.
Minesto completes reorganization to optimize costs and prepare for commercial projects
Minesto has completed a reorganization that led to a 35% reduction in fixed costs and a focus on its future commercial projects. This reorganization includes geographical streamlining, a new management team, and a realignment of product development priorities.
Eco Wave Power obtains authorization to repurchase 10% of its ADS
Eco Wave Power shareholders approve renewed authorization to repurchase American Depositary Shares representing up to 10% of the company's total share capital, during the 2025 Annual General Meeting held in Stockholm, Sweden.
Japan certifies 1.1MW tidal turbine connected to national grid
Proteus Marine Renewables' AR1100 tidal turbine, with a capacity of 1.1MW, obtains official Japanese certification and starts supplying electricity to the national grid after meeting stringent safety and reliability standards.
Minesto receives €2.1mn for tidal-powered microgrid project in Faroe Islands
Swedish company Minesto will lead a consortium awarded €2.1 million funding to install an autonomous tidal-powered microgrid in the Faroe Islands aimed at off-grid communities.
Eco Wave Power inaugurates its first American project at the Port of Los Angeles
Eco Wave Power Global AB will officially launch the first U.S. pilot wave energy project at the Port of Los Angeles on September 9, in partnership with AltaSea, an organization specializing in innovative maritime solutions.
Burundi Inaugurates Major $320 Million Hydroelectric Power Plant
The Burundian government officially launches the first phase of the Jiji-Mulembwe hydroelectric complex, a strategic 49.5 MW capacity project aimed at enhancing national energy supply through substantial international financing.
Russia Forecasts Drop in Electricity Exports to China
The Russian company InterRAO anticipates a 4% annual reduction in electricity exports, primarily impacted by a significant decrease in shipments to China due to limited hydroelectric production and rising domestic demand.
Global Hydropower Plants Market to Reach USD 318 Billion by 2032
The global hydropower plants market is projected to reach USD 318.3 billion by 2032, driven by growing demand for renewable energy, increased adoption of micro-hydropower plants, and heightened government support, according to a recent report.
Port-au-Prince plunged into darkness after forced shutdown of hydroelectric plant
Port-au-Prince is without electricity after residents of Mirebalais forcibly shut down a hydroelectric plant protesting government inaction amid escalating gang-related violence.
Globeleq acquires 51% of Lunsemfwa Hydro Power in Zambia from Norfund
Globeleq acquires a majority stake in Lunsemfwa Hydro Power Company, marking its entry into the Zambian energy market with two hydropower plants and a solar project.
Asian Bank Funds Kyrgyz Energy Upgrade and Targets Kambarata-1 Project
The Asian Development Bank provides nearly a million dollars for improving Kyrgyzstan's energy system and considers an additional $150 million for the strategic Kambarata-1 hydroelectric dam.
Ukraine plans post-war reconstruction of strategic Kakhovka hydroelectric dam
Ukraine’s national operator Ukrhydroenergo announces an ambitious two-phase reconstruction plan to swiftly restore the Kakhovka hydroelectric dam, destroyed during the conflict, at an estimated cost of up to one billion dollars.
Minesto boosts Dragon 12 tidal turbine performance by 25%
Swedish energy developer Minesto confirmed a 25% increase in output from its Dragon 12 tidal system, marking a key step towards commercial deployment in the Faroe Islands.
Axpo launches hydraulic works at Beznau to strengthen its infrastructure until 2052
Axpo will start major works in May around its Beznau hydropower plant to meet the requirements of its new operating permit valid until 2052, including the creation of new ecological habitats.
Orkla sells its hydropower portfolio for NOK 6.1 billion
Norwegian group Orkla announces the sale of its hydropower portfolio through two separate transactions, valuing the assets at NOK 6.1 billion. A strategic decision aimed at streamlining operations and refocusing priorities.
Eastern Kazakhstan Invests in Five New Hydropower Plants by 2030
Eastern Kazakhstan plans to construct five hydropower plants with a total capacity of 74.3 MW, consolidating its position as a national leader in hydropower despite challenges related to land allocation.
Adani Group Accelerates Its Global Expansion with 10 GW of Hydroelectric Projects
Adani Group, a leader in renewable energy, plans to develop 10 GW of hydroelectric capacity in several Asian and African countries, including Bhutan, Nepal, Kenya, and Vietnam, to strengthen its green portfolio and achieve carbon neutrality by 2050.
ANDRITZ upgrades the Vamma hydropower plant in Norway
The international technology group ANDRITZ has been selected to upgrade one of the units of Norway's largest run-of-river hydropower plant, Vamma, increasing its capacity by 22% while improving its energy efficiency.
Eco Wave Power Partners with Lian Tat for an Innovative Marine Energy Project in Taiwan
Eco Wave Power and Lian Tat Sign a Historic Agreement to Develop the First Onshore Marine Energy Installation in Asia, Starting with a 100KW Pilot Project in Taiwan.

LEGAL

FOSSILS

POLICY

RENEWABLE

PLUS

© XMARKET PUBLISHING