Ecopetrol Buys Statkraft's Enerfin Colombia Portfolio in Major Renewables Push

• Colombian oil giant Ecopetrol will acquire Statkraft’s Enerfin Colombia unit— including the 130-MW Portón del Sol solar plant and eight development projects—strengthening its clean-energy pivot.

Statkraft, Europe’s largest renewable-energy generator, has agreed to sell its Colombian subsidiary Enerfin Colombia to state-controlled oil producer Ecopetrol, giving the hydrocarbons heavyweight an instant foothold in the nation’s young but fast-growing clean-power sector. Financial terms were not disclosed, yet both parties expect the deal—covering people, projects and assets—to close in the third quarter of 2025, pending regulatory approvals.

What Ecopetrol Is Getting

At the heart of the transaction is Portón del Sol, a 130-MW solar farm that entered service in early 2024 as Colombia’s first utility-scale photovoltaic plant. The deal also transfers eight wind and solar projects in late-stage development, along with the entire Enerfin Colombia team. In total, Ecopetrol will inherit roughly 1.5 GW of operational, under-construction, and advanced-pipeline capacity—an asset base that dovetails with Bogotá’s ambition to curb the country’s reliance on hydro and fossil fuels.

A Strategic Pivot for Both Sides

For Oslo-based Statkraft, the sale marks the second divestment in its 2024-vintage Enerfin acquisition outside its core European and Nordic markets. “We’ve built a highly capable team and attractive pipeline in Colombia, but our strategy is to concentrate on regions where we have scale advantages,” said Barbara Flesche, Statkraft’s executive vice president for Europe.

Ecopetrol, meanwhile, gains tangible progress toward its 2040 strategy, which calls for investing up to USD 5 billion in low-carbon businesses and sourcing 25 percent of its electricity from renewables. Integrating Portón del Sol into its portfolio offers immediate, cash-generating megawatts, while the eight development projects provide growth optionality in solar-rich La Guajira and wind-buffered Caribbean corridors.

Market Context

Colombia’s utility-scale solar and onshore wind markets have moved from concept to construction in just five years, spurred by auction reforms and urgent demand for grid diversification. Analysts at BloombergNEF project installed renewable capacity to rise from today’s sub-gigawatt levels to more than 6 GW by 2030. Against that backdrop, Ecopetrol’s purchase positions it among a small cadre of local heavyweights— alongside Celsia, AES Andes and Enel Colombia—capable of bringing multi-hundred-megawatt projects over the line.

With closing expected later this year, Ecopetrol will soon shift from newcomer to major developer in Colombia’s clean-energy race, while Statkraft refocuses capital on its trans-Atlantic core—each playing to its comparative strengths in the rapidly evolving global power landscape.