Ecopetrol Completes $50M Acquisition of 205MW Wind Project in Colombia

Colombian state oil company Ecopetrol has completed the acquisition of the Windpeshi wind power project in La Guajira from Enel for $50 million, marking its first fully developed non-conventional renewable energy venture. The project, with a 205 MW capacity, is expected to supply 8-9% of Ecopetrol Group’s energy needs and deliver approximately 1,006 GWh annually, contributing to significant CO2 emissions reductions estimated at 4.8 million tons. Ecopetrol plans to invest around $350 million from 2025 to 2027 to develop the project, aiming to restart construction by the end of 2025 and commence operations before 2028. This acquisition aligns with Ecopetrol’s broader energy transition and decarbonization strategy, supporting Colombia’s national renewable energy targets and leveraging the strong wind potential in La Guajira. The project also aims to optimize Ecopetrol’s energy costs through self-generation and involves engagement with local Wayuu communities to ensure smooth development. While the investment is seen as strategically beneficial for long-term growth and sustainability, risks related to regulatory approvals and project execution remain.