Banco de Bogotá finances solar project for COP 105,000M

Banco de Bogotá financed Grupo Negratín in an alliance with territorial development bank Findeter for COP 105,000 million. The funds will back a portfolio of solar projects in the department of Meta, Colombia.

Named Alma Solar 2, the initiative will have an energy capacity of 39 MWp, enough to supply an average of 35,000 homes per year. The bank estimates that the project could create nearly 300 jobs across its construction, operation, and maintenance stages.

The transaction was structured under a Project Finance framework backed by a 15-year power purchase agreement (PPA) to secure project revenue and ring-fence financial risk at the asset level. Luz Angélica Rubiano, director of structured finance at Banco de Bogotá, stated that the 39 megawatts and nearly 300 jobs demonstrate what the energy transition delivers through clean generation and long-term financing.

Eduardo Barros, investments managing director at Grupo Negratín, noted that the financial close marks a major milestone in the firm's Colombian strategy, leveraging its experience as an EPC contractor to reduce risks early in development.