GEB evaluates projects abroad

Company News    Aug 30, 2021 4:32 PM

Grupo Energia Bogota (GEB) announced its intention to expand its operations abroad.

The company said that it could pursue power generation projects in countries where Enel Green Power Colombia is not present, Valora Analitik reported.

GEB’s Juan Ricardo Ortega said that the company is focused on Venezuela, Central America and Colombia, but there are also plans to expand in Peru.

The expert said that the alliance with Enel will increase the company’s capacity for growth in renewables, especially in countries where the company has strategic interests.

Ortega said that there are several conversations underway with more companies regarding GEB’s inorganic growth in the region, but no details will be announced before contracts are signed.

“It has been proven that there are opportunities because it is a sector that requires investments and the energy systems of the regions also require important investments in power transmission,” Ortega explained.

It is important to remember that GEB began to have good availability of financing at the beginning of the year, the firm was even interested in ISA.

“We are in a good position given what has been done in the last three years: having management teams that know the countries and know the sector in depth, which allows them access to transactions. Plus, an in-house capability to evaluate all potential acquisitions,” GEB said.

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