ISA’s plans

Company News    Apr 23, 2021 12:31 PM

ISA’s Bernardo Vargas spoke about the company’s plans at a national and international level.

Vargas told La Republica that the sale of InterNexa will positively impact the value of the company.

“We believe that this decision generates the best balance between risks and benefits, because it allows us to manage our portfolio and direct the money from this sale to more profitable businesses,” Vargas said.

Vargas explained that the company is a passive actor in the business between the government and Ecopetrol (NYSE: EC).

“We are committed to working with the Ministry of Finance (MinHacienda) and transmitting all the information through them. We have also had direct meetings with Ecopetrol, always with the presence of the Ministry,” Vargas said.

The CEO said that the company has relevant growth plans.

“A fundamental issue is that to grow we need to have clean and profitable financial statements that guarantee us access to financing and debt,” Vargas highlighted.

The expert said that ISA will participate in auctions in the markets where it has a presence.

“The Colombia – Panama interconnection is extremely important to us and is progressing rapidly,” Vargas said.

ISA is betting on the auction for the energy storage project in Barranquilla with an investment of approximately US$50M, according to Vargas.

“This year, we are looking towards Panama, there are possibilities for a very interesting line. We are envisioning that in 2023 or 2024, we will enter the US,” the CEO highlighted.

Vargas said that the company participated in the bidding for the Malla Vial del Valle, but there are still no results.

“However, we are there, and we will continue to be players in 5G. We have looked at acquisition opportunities and participated in processes of some highway assets,” Vargas said.

Bottom-Line: Little news has been heard about the ‘deal of the year’ in recent weeks. However, it is a matter of time for ECP and the government to announce progress on this issue.

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