Grenergy Sells 88 MW Colombian Solar Portfolio to Ecopetrol, Advancing €800M Asset Rotation Strategy

Grenergy has signed an agreement with Ecopetrol, Colombia’s state-owned oil and energy major, for the sale of seven distributed photovoltaic plants totaling 88 MW. The projects will be delivered individually throughout 2026, while Grenergy will continue to provide operation and maintenance services for up to two years.

Despite the sale, Grenergy will maintain its footprint in Colombia with a development pipeline of 12 solar plants amounting to nearly 150 MW.

The deal forms part of Grenergy’s asset rotation plan, introduced during the company’s Capital Markets Day in London, aiming to generate €800 million by 2027. With this transaction, the company has already secured more than 60% of the target.

Over the past year, Grenergy has executed multiple landmark divestments, including the sale of the Gabriela plant to CVC DIF and the Víctor Jara and Quillagua I & II projects to ContourGlobal (KKR). These assets, all part of the Oasis de Atacama platform, collectively reached an enterprise value of nearly USD 1.5 billion.

In Spain, the company finalized the divestment of the José Cabrera and Tabernas solar plants (297 MW) in October for €273 million.

Grenergy closed the first nine months of 2025 with strong financial momentum, reporting €687 million in revenue (up 147%), EBITDA of €111 million (up 109%), and net profit of €45 million, seven times higher than the same period last year.