Bogota, Colombia | July 11th, 2023
In 2023, ProColombia, the agency of the National Government of Colombia responsible for promoting exports, tourism, and foreign investment in the country, launched its podcast ‘Why Colombia’, in which the perspectives of various figures of the Colombian economy are shared, exploring the latest trends, knowledge and strategies for companies seeking to invest in the country. The podcasts´ third episode, presented today, consists of an exclusive interview with Guido Patrignani, CEO of Greenwood Energy, which was conducted by Julio César Puentes, Vice President of Investments at ProColombia, and is now available on Spotify and YouTube. The session was held at ProColombia’s offices in New York, USA, and revolved around the potential of Colombia as a destination for investment in renewable energy, a cornerstone of the energy transition promoted by the National Government.
According to Guido’s perspective, there are three key factors that generate confidence in Colombia and allow investors to project themselves safely in the long term. The first of these is the country’s long history of legal and financial stability, which is one of the most notables on the continent. The second factor is the rapid expansion that the renewable energy sector is experiencing in Colombia, which today represents one of the most dynamic growths in Latin America. In Colombia, the energy matrix is already made up of 70% by hydro sources and it has been possible to observe a vigorous development of projects based on non-conventional renewable energy sources such as wind and solar. Thirdly, Guido highlights the country’s need for investment to develop the infrastructure required by various sectors of the economy to boost their growth, which is facilitated by an agile and efficient bureaucracy in the incorporation of foreign companies in Colombia. All of the above means that the country has great potential in the next decade in terms of investment and development of renewable energy projects.
During the interview, the CEO of Greenwood Energy also shared some details about the TERRɅ INITIɅTIVE, a solar energy project that the company is developing in Sierra Nevada de Santa Marta, and which represents one of the largest and most important in the region. This initiative is part of the concept of energy communities and has been fully developed together with the Arhuaco indigenous community, which stands out as an ally and strategic partner of Greenwood Energy in the consolidation of a new business model for solar projects.
“We haven’t found any benchmark for similar projects carried out before, with such a large and unique social and environmental impact, in addition to its high capacity for clean power generation. It is not just about the electrical infrastructure, but about the families of the community that will benefit directly, and the self-sustainability that will be guaranteed to them in the long term, because the solar plants that we will build will give them the necessary income to acquire land; it will provide them with the necessary training to work and operate the project themselves, and 25 years after its commissioning, these plants will be of their property. TERRɅ is, definitely, a transformative project that is breaking new ground.”
The project sets a precedent in the relationship with indigenous communities in Latin America: “Colombia is one of the most important countries in the region in terms of indigenous population and biodiversity. The Colombian Government is very focused on protecting this diversity and we consider that this is very important because it is one of the main riches and attributes that Colombia has in cultural terms, which also makes it extremely attractive.”, highlighted Guido Patrignani.
The TERRɅ INITIɅTIVE is an example of the potential that Colombia has as an investment hub, which is the central axis of this space for information and analysis carried out by ProColombia.
To listen to this full podcast, visit: