Climate Fund Managers is a climate-focused blended finance investment manager operating in emerging markets across Africa, Asia and Latin America. Erco Energía is a Colombian renewable energy developer. Organización Terpel S.A. is a leading Colombian energy distribution and retail company.
Pétalo del Norte de Santander I is a 26.4 MWp solar PV facility, located in Norte de Santander in the municipality of La Esperanza. The solar farm generates more than 45 GWh of clean energy annually, avoiding an estimated 13,276 tonnes of CO₂ emissions each year and serving approximately 32,600 people. It was developed by Erco Energía and Climate Fund Managers and began dispatching electricity in August 2025.
Climate Fund Managers invested approximately $18 million in development and construction capital through Climate Investor One, its EU-supported renewable energy infrastructure fund. Pétalo del Norte de Santander I was Climate Fund Managers’ first project to reach operational status in Latin America, and this transaction represents the firm’s first exit in the region.
The project created 270 jobs, 64 percent of which were filled by local workers, with women representing 30 percent of the workforce. Approximately $125,000 was invested in community development initiatives, benefiting an estimated 2,400 people in neighbouring communities.
“We are proud to have invested in Pétalo del Norte de Santander I from its development stages” said Juan Paez, Head of Latin America at Climate Fund Managers. “Working alongside our partners, we are proud to have delivered a high-quality renewable energy asset that not only fully complies with IFC guidelines but has contributed significantly to improving the living standards of local communities. While we will remain in the area to continue our investment in Project Pradera, we are pleased to see that Pétalo will enter its next phase under Organización Terpel’s ownership.”
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