Zelestra, a renewable energy project developer, entered into an agreement for the sale of its Latin America platform to Promigas, a multi-energy company based in Colombia.
The platform consists of a total portfolio of more than 2.1 GW of solar and battery energy storage systems capacity with 19 projects in advanced development, located in Colombia, Peru, and Chile, and 1.4 GW contracted with customers.
Juan Manuel Rojas, President of Promigas, stated that, “this acquisition represents a significant step forward in achieving the goals set out in our ‘Our Energy 2040’ strategy, which drives the expansion of our energy solutions portfolio, the growth of non-regulated businesses, and the expansion into new geographies. It also reflects Promigas’ commitment to the energy future of the country and the region, through the development of renewable energy projects that contribute to competitiveness, sustainability, and operational efficiency.”
Financial details of the transaction were not disclosed by the company. The closing of the transaction is subject to the completion of the required procedures before the competition authorities of Colombia and Peru, and the fulfillment of customary conditions, which are expected to be completed in the coming months.
Leo Moreno, Zelestra’s CEO, said: “This agreement represents a major step toward completing Zelestra’s transformation into a customer-centric, multi-technology leader, strategically focused primarily on Europe and the U.S. We are very proud of the impact of Zelestra in Latin America over the years and have strong confidence that the team will continue to have a deep impact in the coming years under its new ownership.”
Earlier, in 2025, Zelestra secured $282 million in a project financing package for the Aurora project, comprising a 220 MWdc solar project and approximately 1 GWh of battery energy storage system located in Tarapacá, Chile. The company also closed a $113 million project financing credit facility for the 81 MW Jasper County solar project in Jasper County, Indiana.
In the first nine months of 2025, approximately 29 GW of solar projects were acquired compared to 28.3 GW in 9M 2024, according to Mercom’s 9M and Q3 2025 Solar Funding and M&A report.
