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Colombia's Celsia eyes green bonds to fund renewables expansion

Bnamericas Published: Monday, November 21, 2022
Colombia's Celsia eyes green bonds to fund renewables expansion

Colombia's Celsia has approved a green bond issuance and placement program worth up to 400bn pesos (US$79mn) to bankroll energy transition projects. 

"With this new program, Celsia ... will have at its disposal three green bond issuance and placement programs, aimed at qualified investors, including financial institutions," the Medellín-based company said in a regulatory filing. 

Celsia's board also approved an extension of up to four years for the repayment of working capital loans totaling 900bn pesos, among other authorizations.

"The diversification of stock market instruments ... which complement bank loans, allow the organization to have the necessary flexibility to optimize its capital structure and take better advantage of market opportunities that may arise," Celsia said. 

In March, Celsia outlined plans to invest US$1bn this year as it develops a raft of solar, wind, transmission and gas-fired thermoelectric projects.

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