Promigas acquires 3.5 GW of solar assets from Zelestra in Latin America

Colombian group Promigas S.A. has signed an agreement to acquire the entire Latin American platform of Zelestra, a global multi-technology renewable energy company. The deal covers a portfolio of more than 3.5 GW in solar and battery energy storage capacity, including 1.0 GW under construction or already in operation, and 2.1 GW of projects in advanced development.

A strategic refocus for Zelestra

This sale is part of Zelestra’s broader strategy to refocus on the European and North American markets. The company is continuing its transformation into a customer-centric platform that integrates multiple energy technologies. Zelestra Chief Executive Officer Leo Moreno stated that the transaction represents “a major step in the group’s strategic evolution.”

For Promigas, the acquisition marks a geographic and technological expansion aligned with its “Our Energy 2040” roadmap. This strategy aims to strengthen non-regulated operations, diversify energy sources and increase regional market presence.

Expanded presence in Colombia, Peru and Chile

The platform acquired from Zelestra includes 19 development-stage projects across Colombia, Peru and Chile. Of the 1.4 GW in contracted capacity, a significant portion is under construction while the remainder is already operational.

With this transaction, Promigas gains access to a mature portfolio and a specialised team of over 130 professionals experienced in solar and storage development, construction and operations. This expertise is expected to support the company’s ambition to accelerate its renewable energy expansion in the region.

Regulatory approvals pending

The completion of the acquisition remains subject to clearance from competition authorities in Colombia and Peru, along with the fulfilment of standard conditions precedent. The closing is expected to occur in the coming months, according to the parties involved.