October 29 (Renewables Now) - Colombian power company Celsia SA (CLB:CELSIA) has built a 57.65% stake in Begonia Power SAS, a local firm with a 330-MW wind project portfolio.
The acquisition comes as a result of a partnership contract signed back in 2016 for the development of four wind projects in northern Colombia. That contract gave Celsia the right to gradually increase its stake to 100%, Celsia said on Friday.
The four projects that make up the 330-MW portfolio are located in La Guajira department. Celsia said they will diversify its mix, complementing the water assets that it has in Colombia.
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, Celsia noted.