Boosting renewable energy in Colombia with Italian companies’ know-how thanks to SACE to support Isagen

SACE, the Italian insurance and finance group fully owned by the Italian Ministry of Economy and Finance, together with BNP Paribas CIB, has finalized a EUR 140 million loan, covered by SACE to support Isagen, Colombia’s third-largest renewable power generation company across Latin America, primarily from hydroelectric, solar, and wind sources.

The deal aims to strengthen commercial ties between Isagen and Italian exporters operating in the renewable energy value chain. Isagen, indeed, has committed to attend annual matchmaking events organized by SACE and to considering Italian companies in its procurement processes. BNP Paribas CIB, which financed the transaction, is a leading player in the global Export Finance market and a prime arranger of SACE-covered Facilities worldwide, with a specific focus on sustainability transactions. BNP Paribas has been present in Colombia for more than 50 years partnering with clients to meet their financing needs, both locally and abroad. Founded in 1995, Isagen owns and operates a diversified portfolio of 15 hydroelectric plants, 10 solar power stations, and 2 wind farms, totaling over 3,000 MW of net effective capacity. Isagen plays a pivotal role in Colombia’s renewable energy transition and supports the country’s COP29 decarbonization goals. This operation highlights SACE’s strategic commitment to promoting Italian exports and partnerships in high-potential markets, fostering long-term industrial collaborations in sectors that drive the global energy transition.

Jenaro Laris Vàzquez, International Relationship Manager of SACE Latin America Office, remarked: "This transaction reflects SACE’s strong commitment to supporting Italian companies in expanding their presence in dynamic markets like Colombia with a strong commitment to renewable energy. We aim to foster high-value partnerships in sectors where both Isagen and Italian companies excel. Thanks to matchmaking initiatives led by SACE, Isagen is going to build new commercial ties with Italian exporters, paving the way for future collaborations aligned with the company’s investment plans.” 

Arturo Mejía, CFO of ISAGEN, remarked: “We are proud to have achieved this important financial milestone, which reflects the strong confidence our partners have in ISAGEN’s stability and long-term vision.”

 “This transaction with BNP Paribas CIB and SACE is a strategic step toward diversifying our funding sources, strengthening our financial resilience, and increasing our flexibility to navigate evolving economic conditions. Ultimately, it supports our commitment to sustainable growth and long-term value creation.”

 “This funding also enables us to broaden our supplier base, reinforcing our supply chain by partnering with Italian firms that can accelerate our mission to deliver clean, green energy. These efforts not only benefit local communities but also contribute meaningfully to the global climate agenda.”

 Jorge Valderrama, Head of Territory of BNP Paribas Colombia, remarked: “ We are proud to support Isagen in collaboration with SACE – an important milestone not only for Isagen but for Colombia’s energy sector. At BNP Paribas, we are deeply committed to providing strategic financial solutions that support our clients in leading transformations in key industries for Colombia’s economic growth.”