Atlantica Sustainable Infrastructure and a subsidiary of Algonquin Power & Utilities Corp. have agreed to co-invest in a 20-megawatt solar plant in Colombia.
The investment is valued at $20 million and will be Atlantica’s first commitment in Colombia.
The project was developed by AAGES, Algonquin’s international joint venture, and is currently under construction. The plant has a 15-year power-purchase agreement in place in Colombia. The asset is expected to reach commercial operations in mid-2021.
“We are happy to co-invest with Algonquin in these projects, in a measured step to enter into a new market like Colombia, with attractive growth prospects for renewables and with similar characteristics to other Atlantica’s markets in South America,” said Santiago Seage, CEO of Atlantica.
Building on this investment, Algonquin and Atlantica have agreed to potentially co-invest in an additional 30 megawatts of solar plants in Colombia, which will al
