Celsia enters Peru with a 218 MW wind project

This Celsia release was published using machine translation.

Medellín, August 18, 2023. Celsia, the energy company of Grupo Argos, announces that it has reached an agreement with the company Grupo Ibereólica Renovables to acquire the 218 MW Caravelí Wind Project, located in the Lomas District, province of Caravelí - Arequipa , Peru. It is estimated that the closing of the transaction will take place before the end of 2023 with the support of Ibereólica, at which time Celsia would begin the construction and start-up of the project.

Caravelí is located in an area where other wind farms already operate, and is in a pre-construction state. “Arriving in Peru with this project is a very interesting opportunity for Celsia. We have found that it is a country with favorable conditions for investment, macroeconomic stability, attractive natural resources for the development of renewable energy projects, remuneration in dollars, and additional growth possibilities to deploy our business portfolio in the future," indicated Ricardo Sierra , Celsian leader .

For the development of the Caravelí wind farm, Celsia will take advantage of equipment and agreements with suppliers that it had already contracted for the wind projects that have presented delays in La Guajira, in Colombia, and whose licensing and consultation processes are ongoing. Thus, it will be able to quickly advance the construction schedule in Peru.

Caravelí is a project developed by the Ibereólica Renovables Group, a pioneer in the promotion, construction and operation of renewable energies, and which already has relevant activities in Spain and Chile, and projects in Peru and Brazil. Grupo Ibereólica Renovables has more than 26 years of experience in the sector, with special experience in wind, solar and hydro projects.

The total value of the project is estimated at USD 240 million and it will have the latest technology in wind generation. Celsia will fund this development with part of the resources from the recent sale of some of its operations in Central America, with which it continues to diversify its international presence with renewable energy projects that represent an attractive return for its shareholders.

Project details:

• Location: Lomas District, Caravelí Province – Arequipa
• Estimated start of operation: Second semester of 2025
• Net capacity: 218 MW
• Transmission line : 47.2km @ 220kV to S/E Poroma 220kV

In this way, Celsia expands its geographical footprint to a new country, and its operations extend to Colombia, Panama, Costa Rica, Honduras and now Peru, throughout the energy chain: generation (renewable solar, hydro and wind), thermal backup, transmission, distribution, energy efficiency, electric mobility, digital marketing and internet. All this with a distinctive and innovative way of doing business, a different corporate culture that always puts the customer at the center of its strategy.