Colombian power generator Isagen agreed to acquire seven hydroelectric generation assets from the Latin American Renewable Energy Investment Fund (LAREIF) for an undisclosed amount.

(Finance Colombia) Colombian power generator Isagen this month announced that it has reached an agreement to acquire the hydroelectric generation assets belonging to the LAREIF group (Latin American Renewable Energy Investment Fund), in the department of Antioquia. Isagen states that its motivations are to continue to strengthen its generation matrix, making it more resilient to climate change and contributing to the country’s energy transition.

Currently, Isagen is advancing in the works of the Guajira 1 and WESP 01 wind farms in Uribia, which will add 32 MW in La Guajira, and has solar initiatives such as the Llanos 4 and 5 projects of 38 MW, in Puerto Gaitán (Meta). The 100 MW Sabanalarga (Atlántico) project is also currently under development.

Isagen indicates that it will close the year with investments of close to 3 trillion Colombian pesos, among these different initiatives, reinforcing the matrix with 360 MW of renewable energy: close to 200 MW hydroelectric in operation during 2021, and 70 MW under construction (2 wind farms and two solar plants) that will come into operation in 2022 and 100 solar MW in 2023.