Colombian power company Isagen SA ESP on Thursday announced a partnership with Atlas Renewable Energy that will jointly pursue the development of 1,000 MW of solar projects in Colombia.
The announcement was scarce on details. Isagen said that the goal of the alliance will be to develop, build and operate the solar projects over the next few years.
The joint initiative will draw from Isagen’s experience as a power generator and retailer in Colombia and Atlas Renewable Energy’s background as a proficient renewables developer in Latin America. It will also enable Atlas to realise its expansion plan in the Colombian market, Isagen said.
Isagen boasts roughly 3,000 MW of installed capacity, much of it hydro. After the sale of the only thermal power plant in its portfolio, Isagen’s generation capacity is 100% clean.
Atlas Renewable Energy is a Latin America-focused platform with some 4,400 MW of contracted projects in the region. It was once backed by private equity firm Actis before being taken over by Global Infrastructure Partners (GIP) in 2022.