Ecopetrol S.A. and Total Eren have signed a binding agreement for the development, financing, construction, and operation of the 100 MW IGA solar photovoltaic (PV) project in Colombia.
Total Eren will hold a 51% stake in the solar farm, while Ecopetrol will hold the remaining 49%. The construction of the plant is anticipated to commence in Q1 of 2023, with operations commencing one year later.
IGA solar will be constructed on the Ecopetrol-owned Rubiales oil field in Puerto Gaitán, Meta. Under a 17-year PPA, Ecopetrol will use the electricity generated by the project to power the Rubiales oil field, replacing other energy sources.
Astris served as Ecopetrol's exclusive financial advisor and assisted with the project's structuring as well as the design and execution of the partner selection process.
