New York-based Glenfarne said its Latin American joint venture with Swiss private equity firm Partners Group, EnfraGen has completed the purchase of the largest natural gas-fired plant in Western Colombia.
With an installed capacity of 241 MW, the acquisition of Termovalle brings EnfraGen’s portfolio of operating and in-construction power assets to a combined capacity of about 1.7 GW, according to a joint statement.
Following the acquisition, the business located in Palmira will be renamed Prime Termovalle.
The plant provides capacity and energy to the Colombian electrical system.
Glenfarne says the “most efficient” gas-fired plant in Colombia features dual-fuel technology.
In addition, the plant’s strategic location would allow it to “benefit from the planned LNG import terminal proposed by the Colombian government,” it said.
Colombia currently hosts only one LNG import terminal, namely the SPEC facility in Cartagena, but the government is also planning another development for the port of Buenaventura, near the acquired power plant.