The Qatar Investment Authority announced yesterday the completion of a deal to invest US$535 million in ISAGEN, which is the largest platform fully specialized in renewable energy and the third largest electric power producer in Colombia.
The device increased its ownership percentage in ISAGEN to approximately 15%. At the same time, ISAGEN’s largest shareholder, Brookfield Renewable Partners, injected an investment amounting to US$1 billion, raising its ownership percentage to approximately 38%.
ISAGEN is the largest fully specialized renewable energy platform and the third largest electricity producer in Colombia with a market share of approximately 18% of electrical energy production and 25% of renewable energy production, annually. The company includes (18) power generation plants with a total capacity of about 3.1 gigawatts.
ISAGEN achieves stable and regular financial flows through a large number of hydropower plants and facilities. The company’s ownership and operation of this large number of power plants enhances the reliability of the Colombian electricity network, and it also owns a group of renewable energy projects that will meet the growing demand for electricity in Colombia.
Qatar Investment Authority is the sovereign wealth fund of the State of Qatar. The agency was established in 2005 to invest and manage the state’s reserve funds, and is considered among the largest and most active sovereign wealth funds in the world. The agency invests in a wide range of asset classes and regions and partners with leading institutions around the world to build a global and diversified investment portfolio with a long-term outlook that can achieve sustainable returns and contribute to the prosperity of the State of Qatar.
ISAGEN is considered a leading energy company, headquartered in Colombia, where it owns (18) electrical power generation plants with an effective net capacity of more than 3,140 megawatts. In addition to its large operational fleet, which consists mainly of hydroelectric power plants, the company is developing its diverse portfolio of renewable energy projects. It also seeks to promote a reliable energy system consisting of a mixture of clean energy sources, which contributes to the sustainability and development of the country.
