popular articles

Colombia: Enerfín obtains financing for the construction of its photovoltaic plant

Enerfín, the renewable energy subsidiary of Elecnor Group, is building its first photovoltaic plant in Colombia with a loan of 300 billion Colombian pesos. This plant, located in the La Dorada region, is expected to produce 263 GWh per year and avoid the emission of 132,480 tons of CO2 each year.

Please share:

Enerfín, the renewable energy subsidiary of the Elecnor Group, has secured a loan of up to 300,000 million Colombian pesos (approximately US$57 million at current exchange rates) to finance the construction of its first photovoltaic plant in Colombia.

This plant, located in the municipality of La Dorada, in the department of Caldas, will have a capacity of 129 MWp and will produce approximately 263 GWh annually, thus avoiding the release of 132,480 tons of carbon dioxide each year.

A loan that does not call on shareholders

The loan, which does not involve shareholders, was arranged using a long-term debt instrument and is compatible with other sources of financing available to the company. The Colombian banks belonging to Grupo Aval, Banco de Bogotá and Banco de Occidente, helped Enerfín to structure the financing of this operation, with the help of Banca de Inversión de Corficolombiana.

The photovoltaic plant is scheduled to be commissioned in November 2023, and Enerfín’s local team will be responsible for managing the operation of this asset throughout its lifetime. It should be noted that this photovoltaic plant will be located in the region of La Dorada, in the department of Caldas. According to José Castellanos, General Manager of Enerfín, “we are doubly satisfied with this project, firstly for having made Enerfín’s first investment in Colombia, and secondly for having obtained this loan to finance a large part of this investment. In addition, Grupo Aval’s confidence in Enerfín shows once again the interest of investors in this type of project and reinforces the attractiveness of our group as a significant international player in the sector.”

Enerfín in full development

Gerardo Silva Castro, Vice President of the Corporate Department of Banco de Occidente, observed, “In line with our goal of contributing to the country’s transformation, we decided to participate in this major project. As Colombians, we are proud to support initiatives that promote sustainability and the country’s energy transition, hand in hand with important sponsors such as Enerfín and the Elecnor Group.”

Founded in 1997, Enerfín develops and manages investment projects in renewable energy, both in Spain and abroad. Elecnor’s subsidiary currently manages 1,227 MW of wind power in operation in Spain, Brazil and Canada, producing more than 3,500 GWh/year and capable of providing electricity to more than 1.5 million homes while avoiding the release of 656,000 tons of CO2 into the atmosphere. This capacity is expected to continue to grow through 2023, with the addition of 268 MW of assets currently under construction and more than 8 GW in the company’s portfolio through 2030.

Register free of charge for uninterrupted access.

Publicite

Recently published in

Urban Grid sets up honey production at its Crystal Hill solar site, combining beekeeping and farming to trial new land management models.
Ecopetrol acquires Statkraft’s Colombian subsidiary, including eight projects under development and the 130 MW Portón del Sol solar plant.
Ecopetrol acquires Statkraft’s Colombian subsidiary, including eight projects under development and the 130 MW Portón del Sol solar plant.
French group Qair has begun construction on two hybrid solar plants in N’Djamena totalling 30 MWp with battery storage, under a 20-year BOOT contract with the Chadian government.
French group Qair has begun construction on two hybrid solar plants in N’Djamena totalling 30 MWp with battery storage, under a 20-year BOOT contract with the Chadian government.
The third-party ownership model dominates non-residential solar installations in the US, according to Wood Mackenzie, with 2.1 GWdc installed in 2024, a record driven by the rise of transferable tax credits.
The third-party ownership model dominates non-residential solar installations in the US, according to Wood Mackenzie, with 2.1 GWdc installed in 2024, a record driven by the rise of transferable tax credits.
Enfinity Global secured a €100mn ($108.4mn) bond facility from Eiffel Investment Group to accelerate its energy storage and solar projects across Europe, mainly in Italy and the United Kingdom.
The Kuwait Authority for Public-Private Partnerships has launched a pre-qualification process to build two photovoltaic plants in the Al Jahra region.
The Kuwait Authority for Public-Private Partnerships has launched a pre-qualification process to build two photovoltaic plants in the Al Jahra region.
Iberdrola Italia has inaugurated a new photovoltaic plant in Tarquinia with a capacity of 33 MW, aiming to produce around 50 GWh of solar electricity per year to support industrial electrification.
Iberdrola Italia has inaugurated a new photovoltaic plant in Tarquinia with a capacity of 33 MW, aiming to produce around 50 GWh of solar electricity per year to support industrial electrification.
SOLV Energy announces contracts totalling more than 6 GW of solar and storage projects in the United States, with construction launches expected as early as 2025. The projects will span several states including Arizona and California.
SOLV Energy announces contracts totalling more than 6 GW of solar and storage projects in the United States, with construction launches expected as early as 2025. The projects will span several states including Arizona and California.
China added 59.7 GW of photovoltaic capacity in Q1 2025, surpassing coal power generation capacity for the first time, according to the National Energy Administration (NEA).
Engie cancelled its hybrid solar farm project in Yass after local opposition. The company is now considering installing only a battery system on the site, responding to community concerns.
Engie cancelled its hybrid solar farm project in Yass after local opposition. The company is now considering installing only a battery system on the site, responding to community concerns.
The Chisamba solar power plant, a major private project in Zambia with a $71.5 million investment, has reached 91% completion, aiming to bridge a structural energy deficit through a strategic partnership with a leading mining group.
The Chisamba solar power plant, a major private project in Zambia with a $71.5 million investment, has reached 91% completion, aiming to bridge a structural energy deficit through a strategic partnership with a leading mining group.
Close Brothers funds the construction of an 8.99MWp solar plant in Rhigos, marking a new phase in a £200mn partnership with Enviromena.
Close Brothers funds the construction of an 8.99MWp solar plant in Rhigos, marking a new phase in a £200mn partnership with Enviromena.
RWE is developing over 86 MWp of solar capacity on recultivated land in the Rhenish region, with commissioning scheduled by the end of 2025.
ReNew Energy Global commits Rs22,000 crore ($2.57bn) to develop a 2.8 GW solar-wind hybrid power plant in Andhra Pradesh.
ReNew Energy Global commits Rs22,000 crore ($2.57bn) to develop a 2.8 GW solar-wind hybrid power plant in Andhra Pradesh.
CVE North America begins construction of a solar and energy storage system on a former landfill site in Riverhead, marking a new strategic investment in the United States.
CVE North America begins construction of a solar and energy storage system on a former landfill site in Riverhead, marking a new strategic investment in the United States.
The tech giant strengthens its partnership with energyRe through a second agreement covering more than 600 MW of solar projects, bringing the total commitment to over 1 GWac of renewable capacity.
The tech giant strengthens its partnership with energyRe through a second agreement covering more than 600 MW of solar projects, bringing the total commitment to over 1 GWac of renewable capacity.
Doral Renewables has finalised a $1.5bn structured financing for three photovoltaic plants in Indiana, marking a major step in the construction of the Mammoth Solar complex.
Solar solutions manufacturer TOYO Co., Ltd released revised financial results for 2024, reporting a significant increase in net profit despite a sharp rise in operating expenses.
Solar solutions manufacturer TOYO Co., Ltd released revised financial results for 2024, reporting a significant increase in net profit despite a sharp rise in operating expenses.
Sungrow has secured an 835 MW order for photovoltaic inverters from Juniper Green Energy for solar projects in India, reinforcing its position in the Asian renewable energy market.
Sungrow has secured an 835 MW order for photovoltaic inverters from Juniper Green Energy for solar projects in India, reinforcing its position in the Asian renewable energy market.
Undocumented embedded devices have been found in Chinese inverters and batteries connected to power grids, raising growing concerns among US energy security officials.
Undocumented embedded devices have been found in Chinese inverters and batteries connected to power grids, raising growing concerns among US energy security officials.
Construction has started on the Union Ridge Solar Farm, with a 98 MWac capacity, in Licking County, Ohio. The project is creating hundreds of local jobs and strengthening the skilled workforce in the renewable energy sector.
The Zambian government has launched works on the 50 MW Cooma solar power plant in the Choma district. The project is part of a broader strategy to diversify the country’s energy mix.
The Zambian government has launched works on the 50 MW Cooma solar power plant in the Choma district. The project is part of a broader strategy to diversify the country’s energy mix.
The project, co-financed by Proparco and led by EDF, involves a solar power plant in Sokodé aimed at boosting Togo’s energy output and attracting new private investments.
The project, co-financed by Proparco and led by EDF, involves a solar power plant in Sokodé aimed at boosting Togo’s energy output and attracting new private investments.
Konexa, Norfund and Climate Fund Managers will invest $3.6mn to develop a 50MW solar plant and expand industrial power grids in Nigeria.
Konexa, Norfund and Climate Fund Managers will invest $3.6mn to develop a 50MW solar plant and expand industrial power grids in Nigeria.

Advertising