Climate Fund Managers and Erco Energía Agree to Sell Pétalo del Norte de Santander I Solar Plant to Organización Terpel

Climate Fund Managers and Erco Energía have entered into a share purchase agreement with Organización Terpel for the sale of their interests in the Pétalo del Norte de Santander I solar photovoltaic plant located in La Esperanza, Norte de Santander, Colombia. The deal involves Terpel acquiring 100% ownership of the solar plant, although it still needs regulatory approval before it can be finalized. 

The Pétalo del Norte de Santander I solar project is situated in the municipality of La Esperanza in the Norte de Santander. It is a 26.4-MWp solar photovoltaic (PV) power plant that produces over 45 GWh of renewable electricity each year. This clean energy generation helps prevent about 13,276 tonnes of CO₂ emissions annually and provides electricity to roughly 32,600 people, supporting both environmental sustainability and local energy supply.

The project was jointly developed by Erco Energía and Climate Fund Managers, and it started delivering electricity to the grid in August 2025. Climate Fund Managers contributed around USD 18 million toward the development and construction of the project through Climate Investor One. Notably, Pétalo del Norte de Santander I was Climate Fund Managers’ first energy project in Latin America, and its sale marks the company’s first successful investment exit in the region.