Patria announces sale of Puerta de Oro to ISAGEN

Patria Investments Limited, on behalf of its Fund Infrastructure V, announced the sale of 100% of its stake in Puerta de Oro, Colombia’s largest solar energy park, to ISAGEN, Colombia’s largest pure-play renewable platform. The sale comes only 2.5 years after Puerta de Oro moved from early-stage project to commercial operation. This marks the first divestment of Patria Infrastructure V, the largest fund of the vintage in Latin America.

Since its investment in 2024, Puerta de Oro has been developed from an early-stage project into a 360 MWp operation and one of Colombia’s most significant renewable energy assets. At that time, Colombia’s renewable energy capacity was 500 MWp in total. Patria Infra V fund helped take Puerta de Oro from development and financing through construction and into commercial operation and sale, supporting Colombia’s energy transition.

The project secured more than COP 1 trillion (approximately US$250 million) of project financing from Bancolombia, Grupo Aval and FDN, alongside concessional financing from the Inter-American Development Bank and Climate Investment Funds.

Located in the municipalities of Guaduas and Chaguaní in Cundinamarca, Puerta de Oro has an installed capacity of 360 MWp, with more than 511,000 solar modules across approximately 530 hectares.

The project is expected to generate approximately 728 GWh of clean energy each year, equivalent to the annual electricity consumption of more than 390,000 homes, while avoiding approximately 370,000 tonnes of CO₂ emissions annually.

The development of Puerta de Oro has also delivered significant economic and social benefits to the surrounding region. More than 2,000 jobs were created during construction, with approximately 95% of roles filled by local workers. The project has also supported investment in education, access to water and community infrastructure in Guaduas and Chaguaní.

This successful divestment demonstrates Patria's capability to generate alpha in infrastructure projects in Latin America. With more than 20 years of experience in energy infrastructure in the region, Patria, on behalf of its infrastructure fund, also created Essentia — whose Sol do Sertão project, when built in 2021, was the second biggest solar plant in Brazil.

José Mestres, Partner, Infrastructure at Patria Investments, said that “Puerta de Oro is a strong example of Patria’s ability to identify compelling infrastructure opportunities and create value by taking projects through the full development cycle. From structuring and financing through to construction, commercial operation and sale, we have helped build Puerta de Oro into a major renewable energy asset that will make a meaningful contribution to Colombia’s energy system for years to come. We are proud of what has been achieved through the development of the project, both in terms of the clean energy it will generate and the economic and social benefits it has delivered to local communities. The sale allows us to realise the value created over the course of our investment and return capital to our investors, while positioning Puerta de Oro strongly for its next phase under ISAGEN’s ownership.”

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