Promigas Completes $456 Million Acquisition of Zelestra Latam’s Renewable Portfolio Across Three Countries

Promigas finalized the purchase of 100 percent of Zelestra Latam for $456.47 million, acquiring companies operating renewable energy projects in Colombia, Peru, and Chile. The transaction was executed through two wholly-owned subsidiaries, Promigas Soluciones Energéticas Colombia S.A.S. and Promigas Soluciones Energéticas España S.L., which held no material assets prior to the acquisition. Colombia’s Superintendencia de Industria y Comercio approved the deal on April 8, 2026, followed by Peru’s Indecopi authorization on March 16, 2026, with both regulators determining the transaction does not violate competition standards.

The acquired portfolio comprises 1,273 MW in operational and construction phases, with the remaining 2,250 MW classified as backlog and advanced development projects. In Colombia, Promigas now controls 252 MW from two operational solar parks, La Unión in Córdoba and La Mata in Cesar, plus the 101 MW Wimke plant, which secured firm energy allocations in a recent auction and targets 2029 commissioning. Chile accounts for 440 MW in operation and construction with an additional 674 MW pipeline, while Peru contributes 581 MW operational and under construction alongside 124 MW in development. The portfolio also includes 169 MW of distributed generation serving industrial and commercial clients.

Promigas president Juan Manuel Rojas stated the company maintains annual investment commitments between 600 billion and one trillion pesos, with renewable project expenditures exceeding $60 million annually within this framework. The acquisition brings battery storage expertise from Zelestra’s Chilean operations, technology Promigas previously deployed only for industrial clients rather than utility-scale solar facilities. The company must discontinue use of the Zelestra brand within three months under terms of the agreement.

Promigas emphasized the transaction does not diminish focus on gas infrastructure, specifically citing ongoing expansion of its Spec facility and bidirectional conversion of Caribbean coast pipeline networks to address potential El Niño impacts anticipated for late 2026. The company’s entry into Chile represents its first operations in that market, expanding beyond its historical Colombia-Peru footprint.