NOVVA Group Enhances Its Presence in Latin America with Solar Acquisition

In a significant move aimed at fortifying its position in the renewable energy market, NOVVA Group, a global leader in AI-enabled energy infrastructure, has finalized an agreement to acquire a Colombian solar portfolio from the German renewable energy developer, ABO Energy. This acquisition marks a pivotal moment in NOVVA's strategy to expand its operations across Latin America and to provide clean energy solutions that meet the region's growing energy demands.

Details of the Acquisition

The portfolio obtained by NOVVA consists of three solar projects at various advanced stages of development, with a total combined installed capacity of 37.8 MWac. These projects are strategically located in the Andean highlands of central Colombia, an area recognized for its favorable solar irradiation conditions. Moreover, they benefit from secured grid connection approvals and long-term land lease agreements, ensuring that they will be operational by early 2028. This timeline will enable NOVVA to provide reliable and clean energy to Colombia’s key economic centers, reinforcing the nation’s commitment to sustainability.

The Growing Need for Clean Energy in Colombia

Colombia is experiencing an unprecedented digital transformation and modernization of its industrial sectors, which is fueling a continuous demand for renewable energy sources. The Colombian government has introduced a National AI Roadmap projected from 2024 to 2031, aiming to integrate artificial intelligence in 50% of public and private enterprises. This development reinforces the vital need for infrastructure capable of supporting the transition to a greener energy economy, which is precisely what NOVVA is ready to supply through this acquisition.

Steven Liu, the Founder and CEO of NOVVA, emphasized the company's strategic approach, stating, "Colombia is precisely the type of market NOVVA is built to serve. By merging specialized financing with global delivery expertise, we accelerate the local energy transition and establish the necessary green power foundations for the digital economy of the future."

Strengthening Local Partnerships

Ingo Burdack-Debes, the General Manager at ABO Energy, expressed enthusiasm about the partnership, noting, "We are pleased to collaborate with NOVVA to enhance these high-quality assets. Their expertise in financing and project execution makes them the ideal partner to propel these initiatives forward, fostering local growth and expediting Colombia's clean energy transition."

This acquisition follows NOVVA’s recent purchase of a 120 MWp solar project in the Philippines, showcasing the company's ambition to build bankable infrastructure in emerging markets that demonstrate high potential for growth.

About NOVVA Group

NOVVA Group Pte. Ltd. is renowned for its commitment to enabling clean energy solutions through AI technology. The company specializes in originating, financing, building, and managing sustainable energy assets across Southeast Asia and Latin America. As global energy demand escalates, driven by digital innovations, NOVVA is dedicated to scaling its clean power capabilities and laying the groundwork for a reliable energy future that caters to both the current and future needs of society.

For more information about NOVVA Group and its commitment to sustainable energy, visit NOVVA Group's official website.

About ABO Energy

ABO Energy is a prominent developer of renewable energy projects based in Wiesbaden, Germany. The company excels in wind, solar, storage, and hydrogen technologies, overseeing all elements from site evaluation to engineering, financing, and long-term operations. For details, visit ABO Energy’s website.