Innova Capital Partners, FCP invest in Colombian solar EPC firm ERCO

Innova Capital Partners LLC and Fondo de Capital Privado de Emprendimiento e Innovacion SP (FCP) will make a joint investment in Colombian solar projects builder ERCO Energia SAS.

The fresh capital will provide funds for the construction of ERCO solar projects in the region, the companies said in a statement today.

ERCO designs and installs both solar photovoltaic (PV) and solar thermal systems. The company is based in Medellin.

"We believe that Innova's international experience and FCP's strategic business vision will allow us to expand our operation, increase our market share and continue to strengthen our position as one of the most important solar energy companies in Colombia," said Juan Camilo Lopez and Juan Esteban Hincapie, co-founders of ERCO.

In turn, FCP’s general manager Felipe Zarate commented that new regulations in Colombia will make the distributed generation (DG) opportunity more robust. Earlier this year, the nation enacted the Law 1715, which establishes the legal framework and instruments to actively promote and integrate non-hydro renewables. The country’s current energy mix is comprised of 70% hydropower.

Choose your newsletter by Renewables Now. Join for free!