#Ecopetrol #Colombia #Bogota #Renewable Energy

Ecopetrol S.A. Expands Green Energy Portfolio

Ecopetrol S.A., the largest integrated energy company in Colombia, has made a significant step forward in its renewable energy ambitions. On May 20, 2025, the company announced it has entered into an asset purchase agreement with Statkraft European Wind and Solar Holding, AS to potentially acquire a remarkable portfolio of solar and wind energy projects in Colombia, boasting a total capacity of up to 1,300 megawatts (MW).

This ambitious portfolio includes one company specializing in the development and operation of solar and wind assets, along with numerous special purpose entities—six focused on solar energy projects (totaling 614 MW) and three dedicated to wind projects (totaling 750 MW). The prospective acquisition is conditional on fulfilling specific legal requirements and precedent conditions, which, once met, would allow Ecopetrol to expand its energy portfolio significantly.

The projects that comprise this portfolio are strategically located across vital departments including La Guajira, Sucre, Córdoba, Caldas, and Magdalena. These areas are known for their favorable conditions for renewable energy generation, making this acquisition a promising venture for Ecopetrol as it seeks to diversify its energy matrix and reduce its carbon footprint.

Should the transaction reach completion, it would represent a major milestone towards achieving Ecopetrol's decarbonization and transition goals. Specifically, these goals include integrating 900 MW of renewable self-generation capacity by 2025 as part of its long-term 2040 Strategy. This move not only aims to support the generation of low-emission energy for the self-consumption of the Ecopetrol Group but also minimizes exposure to fluctuating spot market prices, thus ensuring competitive energy prices.

Ecopetrol has reaffirmed its dedication to bolstering Colombia’s energy future via the introduction of sustainable energy projects into its operational framework. The acquisition aligns with the company's broader goal of transitioning towards renewable sources while maintaining its leadership role in the energy sector.

As an integral part of Colombia's energy landscape, Ecopetrol accounts for over 60% of the country’s hydrocarbon production and is a key player in the logistics and refining systems. The company employs more than 19,000 individuals and has established influential positions in several sectors, including petrochemicals and gas distribution.

Moreover, the company continues to expand its influence beyond national borders, with operations spanning crucial oil and gas basins across the Americas, including notable drilling and exploration activities in the Permian Basin and Gulf of Mexico, Brazil, and Mexico. With a strategic 51.4% share acquisition in ISA, Ecopetrol is also actively involved in energy transmission and handling real-time systems across various South American countries, including Brazil, Chile, Peru, and Bolivia.

The announcement reinforces Ecopetrol's commitment not only to expand its renewable energy base but also to lead the transition towards cleaner energy resources on the continent. By continuing to integrate renewable projects into its core operations, Ecopetrol aims to contribute significantly to sustainable energy development while supporting Colombia’s economic and environmental goals. As the global shift towards clean energy accelerates, Ecopetrol stands at the forefront, ready to embrace the inevitable energy transition that lies ahead.