Celsia closes control over Begonia Power

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Celsia S.A E.S.P., an energy company of the Argos Group has acquired the control of the company Begonia Power S.A.S E.S.P upon reaching a 57.65% stakes in its social capital.

The acquisition of control of Begonia by Celsia comes as a result of a contract signed in 2016 for the co-development of four wind projects in northern Colombia, which includes the gradual purchase of shareholding until reaching 100%.

The four projects that make up the 330-MW portfolio are located in La Guajira department. Currently under development, the wind projects have environmental licenses and connection agreements in place, greenlit by the country's Energy Mining Planning Unit (UPME). Different progress has been achieved as regards to the connection to the grid.

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