Zelestra signs agreement to sell Latin America platform to Promigas S.A.

Zelestra’s Latin America platform includes 1.4 GW of solar and battery energy storage contracted capacity, out of which 1.0 GW are projects in operation or under construction, and a portfolio of 2.1 GW+ of projects under advanced development in Chile, Peru and Colombia.

Zelestra, a global, multi-technology and customer-focused renewable energy company, has entered into an agreement for the sale of its Latin America platform to Promigas, a large multi-energy holding based in Colombia focused natural gas and renewables across Latin America to advance a sustainable future in the region.

Zelestra’s business in Latin America consists of a total portfolio of 2.1 GW+ of solar and battery energy storage capacity with 19 projects in advanced development, located in Colombia, Peru and Chile, and 1.4 GW contracted with customers.

Leo Moreno, Zelestra’s CEO, said: “This agreement represents a major step toward completing Zelestra’s transformation into a customer-centric, multi-technology leader, strategically focused primarily on Europe and the United States. We are very proud of the impact of Zelestra in Latin America over the years and have strong confidence that the team will continue to have a deep impact in the coming years under its new ownership.”

Juan Manuel Rojas, President of Promigas, stated that “this acquisition represents a significant step forward in achieving the goals set out in our ‘Our Energy 2040’ strategy, which drives the expansion of our energy solutions portfolio, the growth of non-regulated businesses, and the expansion into new geographies. It also reflects Promigas’ commitment to the energy future of the country and the region, through the development of renewable energy projects that contribute to competitiveness, sustainability, and operational efficiency.”

Zelestra’s Latin America platform is a clean energy pioneer in the region, with over 15 years of experience in developing, constructing and operating renewables projects, supported by a team of over 130 highly skilled professionals.

The closing of the transaction is subject to the completion of the required procedures before the competition authorities of Colombia and Peru, and the fulfillment of customary conditions precedent for this type of operation, which are expected to be completed in the coming months.

About Zelestra

Zelestra is a vertically integrated company specializing in the development, commercialization, construction and operation of large-scale renewable energy projects. Recently ranked among the top 10 sellers of clean energy to corporate customers globally by Bloomberg New Energy Finance (BNEF), the group is backed by EQT, one of the world’s largest funds, with more than €266 billion in assets under management.