Founded in Medellín in 2011, Erco has developed an integrated renewable energy platform encompassing solar generation, energy storage, electric mobility, asset management, digital energy commercialization, electrification, and energy efficiency services. The company has completed more than 2,600 projects and operates installed capacity exceeding 450 MWp, primarily in Colombia. Erco participates in large-scale projects including the Andes solar project, a roughly 400 MWp development alongside EPM that will supply capacity equivalent to consumption for 364,000 residents when connected to the National Interconnected System.
Axon Partners Group first invested in Erco during its Series B round in 2023 and has since worked with management to institutionalize decision-making processes and governance structures designed to meet international due diligence standards and attract global capital. The firm positions the investment within its climate tech thesis focused on companies with proven business models, significant scaling potential, and measurable impact on energy transition across Europe and Latin America.
Nicolás Ríos, partner at Axon Partners Group responsible for the firm’s sustainability and climate tech strategy in Latin America, stated the transaction demonstrates climate tech and energy transition represent mature investment theses in the region capable of generating returns alongside measurable impact. Axon indicated the Erco model reflects an approach combining patient capital, corporate governance, institutionalization, and preparation for international investment that the firm plans to scale through a forthcoming growth investment phase targeting companies across the region alongside institutional and development finance partners.
This article was curated and published as part of our South American energy market coverage.
