Colombia's Celsia issues green bond to fund more solar projects

Colombian power company Celsia on Tuesday issued a green bond worth COP 140 billion (USD 35m/EUR 30.9m) to fund the roll-out of its solar energy projects, it said.

The International Finance Corporation (IFC), part of the World Bank Group, was the sole subscriber.

The bond, which matures in 12 years, is Celsia’s second issuance of green notes under the placement programme registered in 2018.

The proceeds will be used to fund the solar energy development under the 2017-2025 investment plan, which foresees the construction of several solar farms with a combined installed capacity of up to 215 MW, Celsia said.

Celsia’s most recent solar success was the placement of 225 GWh per year under off-take contracts in Colombia’s renewable energy auction in October. This volume of power will be generated by the 99-MW Celsia Solar Escobal 6 plant, which company expects to commission in December 2024.

At present, Celsia has seven solar farms in operation in Colombia and Central America.

(COP 1,000 = USD 0.250/EUR 0.221)

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