16 May 2023
Verano Energy has acquired three solar projects in Colombia with a total capacity of 296MWp.With this milestone, Verano’s on-grid portfolio in Latam exceeds 3GWp, in addition to its sizable green hydrogen portfolio in the region.Verano's focus is to be a relevant player in Latam in this area, with its presence in Chile, Peru, Argentina, and now reactivating Colombia.Verano Energy's Dylan Rudney said: "The majority of our experience and success has been in our main market of Chile, where we have connected almost 50 different solar projects."We have put an emphasis on expanding and diversifying in the region, and continue to deploy capital in our internal portfolio of over 3GWp."Now we see a clear path to begin to invest in our Colombian portfolio through the projects identified and purchased. Colombia is an attractive and strategic market for us."As a company, we are transitioning from a pure solar developer and EPC to an IPP (Independent Power Producer), which means we will be investing in and owning our own projects."Verano arrived in Colombia in 2018 and invested in a greenfield solar portfolio, most of which was left stranded without interconnections based on regulation.The company hopes to begin construction on its first projects in the market this year in order to begin operations during 2024.
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