Colombia’s Energy Shift: Statkraft Sells Solar and Wind Portfolio to State Oil Giant

Ecopetrol’s Renewables Push Gains Momentum with 130 MW Solar Deal

In a move underscoring the rapid transformation of Latin America’s energy landscape, Norwegian renewables giant Statkraft has agreed to sell its Colombian portfolio—Enerfín Colombia—to state-owned oil company Ecopetrol. The deal, expected to close in Q3 2025 pending approvals, includes eight development projects and the landmark 130 MW Portón del Sol solar plant, Colombia’s first utility-scale solar facility. The transaction marks a strategic pivot for both companies: Statkraft streamlines its South American assets, while Ecopetrol accelerates its transition beyond fossil fuels.

“This acquisition aligns with our goal to diversify into low-carbon energy,” an Ecopetrol spokesperson noted, signaling a broader trend of oil majors hedging their bets.

Enerfín Colombia, established in 2016 and headquartered in Bogotá, became part of Statkraft’s empire in May 2024 when the Oslo-based firm acquired Spanish renewables developer Enerfín. That deal added 1.5 GW of wind and solar projects across Spain, Brazil, and Colombia—catapulting Statkraft into the top 10 wind producers in Spain and Brazil. But Colombia’s assets, including Portón del Sol (operational since 2023), were deemed non-core as Statkraft doubled down on Europe and Brazil. “We’re prioritizing markets where we can scale rapidly,” a Statkraft insider explained.

The Bigger Picture: Oil Meets Solar

Ecopetrol’s play for Enerfín Colombia reflects a seismic shift in the region. Once synonymous with crude, the Colombian oil firm has pledged to invest $1 billion in renewables by 2030. Snapping up Portón del Sol—a project that powers 65,000 homes—gives Ecopetrol instant credibility in a market where solar generation grew 187% last year. Meanwhile, Statkraft’s exit underscores the challenges foreign investors face in Colombia’s nascent renewables sector, despite its vast potential. “Regulatory hurdles and grid constraints remain,” admitted a Bogotá-based energy analyst.

“Statkraft’s retreat isn’t a rejection of Colombia—it’s a reallocation. Their focus is now Brazil’s auction-driven market and Europe’s subsidy boom.”

For Statkraft, the sale concludes a brief Colombian chapter. The firm retains its hydropower stronghold in the country but will channel future investments into wind-rich Brazil and its Nordic backyard. As for Ecopetrol, the deal is a calculated gamble: Can an oil titan reinvent itself as a clean energy leader? With Portón del Sol as its flagship, the answer may soon flicker to life under the Andean sun.