Invenergy has signed a strategic partnership agreement with Colombian utility EPM to build up to 500 MW of renewable energy capacity in the country by 2025.
The two companies are planning to develop, build and operate large-scale wind and solar energy projects in Colombia. The partnership combines Invenergy’s renewable development and operational expertise with EPM’s domestic know-how, Invenergy said.
Invenergy was selected by EPM after a competitive tender process.
Invenergy will leverage its expertise in engineering, finance, construction, and operations & maintenance, and EPM will provide power purchase agreements (PPAs) and development support under mutual exclusivity during the partnership. The projects will grow EPM’s portfolio of competitive and sustainable solutions that provide clean energy and benefit their customers.
“Our partnership with EPM represents a significant milestone for Invenergy as we enter the Colombian market and expand our operating footprint in Latin America,” said Michael Polsky, founder and CEO of Invenergy. “EPM is a strong partner with a great reputation, and we are pleased to share this achievement that will accelerate the growth of renewable energy in Colombia.”
“For EPM, renewable energy is a priority, for our commitment to the community to offer services using cutting-edge technologies while keeping in mind efficient pricing and a positive environmental impact,” said Jorge Londoño De la Cuesta, CEO of EPM.