Norway's Statkraft selling renewable assets in Colombia to Ecopetrol

BOGOTA (Reuters) -Colombian state-run oil company Ecopetrol said on Tuesday it agreed to buy 10 wind and solar energy project development companies from Norway's Statkraft.

Ecopetrol CEO Ricardo Roa said the portfolio of projects could total up to 1.3 gigawatts in capacity, but did not disclose the value of the transaction.

The deal will mark Statkraft's exit from Colombia, local representative Jose Castellanos said.

Statkraft bought the assets last year as part of its takeover of energy developer Enerfin, but were immediately marked for divestment, together with units in Canada, Australia and the U.S., with the latter sold already.

In a separate statement, Statkraft said it expected the Colombian sale to be completed during the third quarter of 2025, subject to regulatory approvals.

Statkraft, which is owned by the Norwegian state and is a major European renewable energy producer, is also looking to sell assets in India, Croatia and the Netherlands.

Its projects in Colombia span the La Guajira, Sucre, Cordoba, Caldas and Magdalena departments. One is operational, some are expected to begin operations in 2026 and 2027, while others have no defined start date.

Ecopetrol said in March that it expected to raise up to $2 billion in additional debt this year to finance investments.

In April, it signed an agreement with AES Colombia to acquire 49% of the Jemeiwaa Ka'I wind energy cluster in La Guajira. It is also in the process of acquiring a wind energy project from Italy's Enel.

(Reporting by Nelson Bocanegra; additional reporting by Nora Buli in Oslo; Writing by Natalia Siniawski; editing by Brendan O'Boyle, Sarah Morland and Leslie Adler)

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