Ecopetrol Buys 49% Stake in 2 Wind Projects for $25.5 Million

MT Newswires Live05-20 21:50

Ecopetrol (EC) said Wednesday it has bought a 49% stake in two of the six projects comprising the Jemeiwaa Ka'I wind cluster in La Guajira, Colombia, for $25.5 million.

The deal followed the fulfillment of the conditions precedent and legal requirements for the acquisition under an investment framework agreement with AES (AES) Colombia, Ecopetrol said.

The JK1 and JK2 projects have a combined capacity of 259 megawatts and include a 35-kilometer transmission line to the collector substation, according to a statement.

Ecopetrol said it will complete the acquisition of the remaining portion of the 49% interest in the wind cluster once the conditions precedent for the other four projects are met.

Price: 14.16, Change: +0.15, Percent Change: +1.07

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