Organización Terpel has agreed, subject to regulatory approval, to acquire 100% of the 26MWp Pétalo del Norte de Santander I solar plant in northern Colombia.
Sellers Climate Fund Managers and Erco Energía said the transaction signals the continued maturation of Colombia’s renewable energy market and growing participation from strategic investors.
Located in La Esperanza in Norte de Santander, the plant generates more than 45GWh of electricity annually, supplying around 32,600 people and avoiding an estimated 13,276 tonnes of CO₂ emissions each year.
The partners said the project began dispatching power in August 2025 after Climate Fund Managers invested approximately $18 million through its Climate Investor One fund. Pétalo del Norte de Santander I was the firm’s first energy project in Latin America, and the sale represents its first exit in the region.
During development and construction, the project created 270 jobs, 64% of them filled locally, and allocated roughly $125,000 to community initiatives benefiting about 2,400 people.
“We are proud to have invested in Pétalo del Norte de Santander I from its development stages,” said Juan Paez, head of Latin America at Climate Fund Managers.
“Working alongside our partners, we are proud to have delivered a high-quality renewable energy asset that not only fully complies with IFC guidelines but has contributed significantly to improving the living standards of the local communities.”
Paez said the partners would remain active in the region through continued investment in Project Pradera, while Pétalo moves into its next phase under Terpel’s ownership.
Terpel said the acquisition aligns with its strategy to diversify its energy portfolio and expand its presence in renewable power generation.
