Scatec secures financing for Barzalosa solar project in Colombia

Scatec ASA's financial close for the 130 MW Barzalosa solar project in Colombia signifies continued investment in renewable energy infrastructure within the region. The $121 million project is financed through a combination of non-recourse debt and equity, demonstrating confidence from both local and international financial institutions. The involvement of Bancolombia and Financiera de Desarrollo Nacional (FDN) highlights the growing role of Colombian institutions in supporting renewable energy development, while Norfund's participation underscores the importance of international development finance in facilitating clean energy transitions in emerging markets. Scatec, as the developer, brings its expertise in renewable energy solutions to this project, further solidifying its presence in the Latin American market. The Barzalosa project is a notable development due to its scale and the diverse range of financial partners involved. The 130 MW capacity represents a significant addition to Colombia's solar energy portfolio. The participation of both local lenders like Bancolombia and FDN, alongside international investors like Norfund, demonstrates a blended finance approach that is becoming increasingly common in renewable energy projects in developing countries. This deal also signals the attractiveness of the Colombian renewable energy market to international developers like Scatec, driven by supportive government policies and increasing demand for clean energy.