AES Colombia investment plan

Company News    May 5, 2021 4:16 PM

AES Colombia announced its investment plan and new projects through 2030 in the country.

The company plans to establish itself as a leader in renewable energy in the country, Valora Analitik reported.

Federico Echavarría, General Manager of AES Colombia, said that the company plans to include 2,000MW of new installed capacity, distributed in wind, solar and battery projects.

Echavarria explained that these plans will be financed with their own capital and other options will be analyzed with the financial system.

“These projects have an important component of capital and partners. Our parent company in Chile made a capitalization of US$500M for growth in Chile and Colombia,” Echavarria said.

Echavarría said that these plans represent investments of US$1.0B.

“The new projects will allow us to triple our current installed capacity (1,041MW),” Echavarria highlighted.

AES Colombia aims to be a reference point in the 14 countries where it has presence, in addition to guaranteeing sustainable growth.

“In recent years, we have invested more than US$120M modernizing and optimizing our current operation,” Echavarria said.

The expert said that the company focused on its growth strategy in Colombia during 2019.

“This allowed us to set ambitious goals that grew to the point of coming up with the idea of tripling our installed capacity by 2030. We have met 36% of this goal, with development investments of US$1.0B,” Echavarría concluded.

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