Terpel has initiated a strategic diversification into renewable energy through its recent acquisition of a 19.9 MW solar park in Córdoba, valued at approximately COP 100 billion, marking its first significant move into energy autogeneration. Concurrently, the company is accelerating growth in electromobility infrastructure, targeting an expanded network of rapid electric vehicle chargers to support Colombia’s rising adoption of electric vehicles.
Terpel, a leading Colombian fuel and lubricant distributor with over 2,000 service stations, has entered the solar generation market by acquiring a solar park in Córdoba with 19.9 MW capacity—optimized to fit Colombia’s regulatory thresholds and minimize additional compliance costs. The investment, partially financed through debt, was operational in Q4 2024 and serves as the foundation for Terpel Energía’s broader energy diversification strategy. Terpel’s energy subsidiary is actively seeking further acquisition opportunities in small-scale solar projects, prioritizing operational assets with Power Purchase Agreements or projects close to securing them. Terpel Sunex, the corporation’s transition energy branch, continuously evaluates opportunities in both self-generation and centralized solar power to build a portfolio with balanced risk and attractive returns, enhanced by tax benefits linked to clean energy investments. This initiative complements Terpel’s established role as a fuels commercializer and lubricant supplier.
In parallel, Terpel is consolidating its position in Colombia’s electromobility sector by expanding its network of fast-charging stations. As of 2025, it operates 40 electrolineras with over 120 charging points, including 24 fast chargers strategically placed along urban corridors and high-traffic areas. The company plans to add at least 14 more charging points in 2026 across major cities such as Bogotá, Medellín, and Cali. Terpel supports corporate and public transport fleets, including nearly half of Bogotá’s 1,400 electric buses, and promotes complementary fuels like LPG for urban taxis as transitional solutions. Despite infrastructural challenges, notably in the Caribbean region’s electrical grid, Terpel leverages its multi-energy portfolio—including traditional fuels, natural gas, LPG, and electricity—to meet evolving mobility demands and regulatory sustainability goals. Financially, the company has reduced its debt-to-EBITDA ratio to near three times, maintaining a balanced capital structure to support ongoing investments in renewable energy and electromobility infrastructure.
