Ecopetrol-acquires-Statkrafts-Colombian-renewables-assets

Ecopetrol acquires Statkraft’s renewables assets in Colombia

BOGOTá, May 21, 2025 – Colombia’s state-owned oil company Ecopetrol has agreed to acquire 10 wind and solar energy project companies from Norway’s Statkraft, Reuters reported on Wednesday.

Statkraft’s projects are located in the departments of La Guajira, Sucre, Córdoba, Caldas and Magdalena. One is currently operational, with the operational date of the rest either yet to be determined or slated for 2026 and 2027.

Ecopetrol chief executive Ricardo Roa said the assets have a potential generation capacity of up to 1.3 GW and will be used to support the company’s power needs. The financial terms of the transaction were not disclosed.

The acquisition is part of Ecopetrol’s broader strategy to expand in the renewables space. In April, it signed an agreement to buy 49% of the Jemeiwaa Ka’I wind energy cluster from AES Colombia, and the company is also negotiating the acquisition of a wind project from Enel. To support these efforts, Ecopetrol said in March it may raise up to USD 2 billion in additional debt.

With the agreement, which remains subject to regulatory approvals, Statkraft will effectively exit the Colombian market. The company has also announced plans to divest assets in India, Croatia and the Netherlands to concentrate resources in key markets.

Owned by the Norwegian state, Statkraft operates a global portfolio of hydro, wind, solar and gas assets. The company also trades energy in numerous international markets.

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