Ecopetrol to Acquire Up to 1.3GW of Solar and Wind Energy Projects in Colombia

Ecopetrol Expands Renewable Energy Portfolio

Ecopetrol S.A. has taken a significant step towards renewable energy expansion with its agreement to acquire up to 1.3GW of solar and wind energy projects in Colombia. The company signed a purchase agreement with Statkraft European Wind and Solar Holding on May 20, 2025. The portfolio includes a diverse range of solar and wind projects, strategically located across several key departments in Colombia, including La Guajira, Sucre, Córdoba, Caldas, and Magdalena.

The portfolio encompasses six solar projects with a combined capacity of 614 MW and three wind projects totaling 750 MW. Once the transaction is complete, Ecopetrol will advance its energy diversification strategy, supporting both its decarbonization goals and renewable energy transition plans.

Advancing Ecopetrol’s Decarbonization Goals

This acquisition aligns with Ecopetrol’s ambitious targets under its 2040 Strategy, particularly the goal to incorporate 900 MW of renewable self-generation capacity by 2025. By securing these solar and wind assets, Ecopetrol aims to reduce its reliance on spot market energy purchases and further diversify its energy matrix. The move also helps Ecopetrol contribute to low-emission energy generation, ensuring competitive energy conditions for its operations.

Furthermore, the integration of these renewable projects will significantly boost the company’s long-term sustainability efforts. Ecopetrol’s commitment to the energy transition in Colombia underpins its strategy to lead the region in clean energy production.

SuperMetalPrice Commentary:

Ecopetrol’s acquisition of solar and wind projects reflects a broader trend of energy transition in the oil and gas sector. By investing in renewable energy, Ecopetrol is positioning itself as a forward-thinking energy company that aligns with global sustainability goals. The shift to renewables also demonstrates how traditional energy companies are evolving to reduce their carbon footprints while ensuring long-term energy security. This acquisition not only benefits Ecopetrol but also contributes to the broader decarbonization goals of the Colombian energy market.