Wedoany.com Report-Nov. 20, Climate Fund Managers (CFM) and Erco Energia have officially commissioned the Petalo del Norte I solar plant in northern Colombia, located between Cesar and Norte de Santander departments. The 26.4 MWdc (19.9 MWac) fixed-tilt facility has reached commercial operation and now generates over 45 GWh of electricity annually, supplying power to approximately 32,600 people while avoiding around 13,276 tonnes of CO₂ emissions each year.

The project, developed by Erco Energia and built by Andina Solar, created 270 construction jobs, with 64 percent filled by local workers and women comprising 30 percent of the workforce. A 1.2 km aerial line connects the plant to the grid at 34.5 kV. CFM provided nearly USD 20 million in development and construction financing through its Climate Investor One facility, backed by the European Union, and secured a 15-year power purchase agreement. A USD 125,000 community development program supports nearby communities through education, water access, women’s empowerment, and rural enterprise initiatives.

At the same ceremony, the partners announced USD 1.5 million in development funding for the adjacent Pradera solar-plus-storage project. Once completed, Pradera will become Colombia’s largest facility of its kind, combining 40 MWac solar capacity with 18 MWh of battery storage. It is expected to produce more than 95.8 GWh per year, serve around 71,000 people, and avoid approximately 129,000 tonnes of CO₂ annually. The project will create about 380 construction jobs and 29 permanent positions, along with its own community development program.

Juan Paez, Head of Latin America at Climate Fund Managers, said: “Access to capital for climate infrastructure remains one of the main barriers to achieving Colombia’s 2050 net zero ambition.” He added: “Our partnership with Erco Energía, supported by the European Union, shows how blended finance can help bridge that gap - unlocking investment for projects that strengthen energy security and accelerate the clean energy transition.”

Alberto Menghini, Head of Cooperation at the European Union Delegation in Colombia, stated: “The European Union is Colombia´s main energy transition partner, not only through Foreign Direct Investments, but also through financial mechanisms such as CFM’s Climate Investor One Fund.” He continued: “This approach enables transformative initiatives such as Pétalo del Norte I and Pradera, which strengthen and diversify Colombia´s energy mix while creating local jobs and opportunities.”

Juan Camilo Lopez, Chief Executive Officer and Co-Founder of Erco Energia, commented: “Expanding solar generation is essential to strengthen Colombia’s energy security and resilience.” He said: “Together with CFM, we are demonstrating how partnerships that combine local expertise with international investment and experience can accelerate that shift.”

Both projects use CFM’s blended finance model to combine public and private capital. The Pradera battery system will help stabilize the grid, manage short-term fluctuations, and reduce reliance on higher-cost generation during dry seasons, contributing to greater overall system reliability in Colombia.