Zelestra Offloads Multi-GW LatAm Portfolio To Promigas
The deal between Zelestra and Promigas includes 1.4 GW contracted and 2.1 GW development-stage capacity
Zelestra says the move aligns with its strategy to focus on Europe and the US
Promigas says the acquisition supports its long-term growth and energy transition goals
Zelestra, the renewable energy company headquartered in Spain, has sold its Latin American platform, comprising several GWs of solar and battery energy storage system (BESS) projects, to Colombia’s Promigas.
Having rebranded from Solarpack, EQT-backed Zelestra says this divestment is part of its strategy to become a customer-centric, multi-technology leader with a focus on Europe and US markets.
The transaction will close following regulatory clearances from authorities in Colombia and Peru, added Zelestra.
The platform consists of a contracted capacity of 1.4 GW of solar and BESS. Of this, 1 GW of projects are either in operation or under construction. At least 19 projects are in advanced development. It has also offloaded over 2.1 GW capacity under development in Chile, Peru, and Colombia. The portfolio includes Peru’s ‘largest’ operational solar PV project with 300 MW DC capacity, commissioned earlier this year (see Latin America Solar PV News Snippets).
The buyer, Promigas, invests in natural gas and renewables in the Latin American market. Promigas President Juan Manuel Rojas explained that the acquisition will contribute to the company’s ‘Our Energy 2040’ strategy goals, which target expansion into new geographies and growth of non-regulated businesses.
“It also reflects Promigas’ commitment to the energy future of the country and the region, through the development of renewable energy projects that contribute to competitiveness, sustainability, and operational efficiency,” added Rojas.
Zelestra recently announced winning 60 MW of solar PV capacity in Italy’s FER X auction with 8 projects, securing GSE contracts for 100% of the projects it submitted. It now targets H1 2028 to bring the entire portfolio online (see Italy Awards Around 7.7 GW Solar PV In Inaugural FER-X Auction).
