Celsia partners with Bancolombia Capital to finance Colombian solar construction

Colombian power company Celsia has partnered with Grupo Bancolombia Capital, part of financial services group Bancolombia SA, to launch an investment platform to finance and build solar projects for businesses in Colombia.

Celsia said the platform will develop energy efficiency solutions and solar solutions of up to 7.99 MWp per project, aiming to reach an installed capacity of 160 MW over the next five years. During this period, the partners are expected to invest nearly 640 billion COP ($168.5 million/€153.9 million) in the program.

Grupo Bancolumbia Capital will serve as an investor, while Celsia will bring its experience in developing solar self-consumption systems and energy efficiency solutions to the platform. According to the announcement, the power company will also be responsible for designing and operating the systems.

The new business will start with Celsia's 33 MW portfolio of installed capacity, which the company has developed for more than 80 companies in Colombia. (COP 1000=$0.263/EUR0.240)