GreenYellow and Davivienda close financing of nearly €8 million for the acquisition of a 10,9 MWp ground-mounted solar plant in Colombia
GreenYellow, a major international player in the energy transition, and Davivienda Bank, one of the leading financial institutions in Colombia, have concluded a financing agreement of 37 billion Colombian pesos (nearly €8 million) for the acquisition of Jeques, a ground-mounted grid-connected solar power plant located in Cucunubá, in the department of Cundinamarca.
. This transaction, GreenYellow’s first Merger and Acquisition (M&A) in Colombia, is fully aligned with its external growth strategy in the country.
The financing of the Jeques solar park, structured as a short-term 24-month corporate loan (bridge loan), reflects a shared commitment to promoting high-impact environmental and social renewable energy projects. It also demonstrates the growing mobilization of financial institutions in Colombia in support of the region’s energy transition.
“Today is a very important day. This operation shows that local banks are genuinely committed to financing the country’s energy transition. It marks a turning point because, unlike our traditional ‘Project Finance’ structures, this acquisition was structured as corporate debt. It is a sign of local banks’ confidence, such as Davivienda, in renewable energy and the players driving it, like GreenYellow,” said Diana Durán, CFO of GreenYellow Colombia.
With an installed capacity of 10.9 MWp, the Jeques plant is equipped with 19,278 bifacial modules combined with solar tracker technology, optimizing solar energy capture throughout the day. It will produce 21.8 GWh of green electricity per year, injected into the National Interconnected System (SIN), equivalent to the daily consumption of 145,000 Colombian households. This volume will also help avoid more than 4,000 tons of CO₂ emissions per year.
In addition to its environmental impact, the project also generated significant social benefits, creating over 400 local jobs during its implementation — 35% of which were filled by women. About 80% of the people hired came from Cucunubá, Ubaté, and nearby municipalities, thus strengthening the region’s economic development.
“For Davivienda, participating in the financing of the Jeques solar farm is part of our commitment to the country’s sustainable and long-term development, based on a diversified, robust, and resilient energy matrix. This is our second partnership with GreenYellow, a testament to our dedication to fostering green, local, and competitive energy,” said Andrés Restrepo, Head of Structured Finance at Davivienda.
With this acquisition, GreenYellow continues its expansion by combining solar project development with external growth, aiming to become the leading player in the energy transition in Colombia and Brazil. The transaction also reflects the growing financial autonomy of its Latam hub, now capable of structuring its financing locally.
