Ecopetrol executes purchase agreement with Statkraft

Ecopetrol (EC) announces that it executed an asset purchase purchase agreement with Statkraft European Wind and Solar Holding on May 20, for the potential acquisition of its portfolio in Colombia. This portfolio includes one company dedicated to the development and operation of solar and wind assets, six special purpose entities owning solar projects, 614 MW, and three special purpose entities owning wind projects, 750 MW. The agreement is subject to the fulfillment of conditions precedent and other legal requirements, which, once met, is intended to allow Ecopetrol S.A. to acquire the Portfolio of up to 1.3 GW. The companies are owned by Statkraft’s subsidiaries: Enerfin Sociedad de Energia S.L.U and Enerfin Enervento Exterior. The Portfolio’s projects are located in the departments of La Guajira, Sucre, Cordoba, Caldas, and Magdalena. If completed, this acquisition would represent significant progress toward Ecopetrol S.A.’s decarbonization and energy transition goals, particularly the target of incorporating 900 MW of renewable self-generation capacity by 2025, in line with its 2040 Strategy.