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electric grid

Colombia advances sale of Electricaribe electricity distribution company

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Colombia is making progress in selling Electricaribe. Electricaribe represents approximately 25% of the total market in Colombia, it is a significant portion of the market. The Colombian government made the decision to assume the pension debt, which is 1.2bn pesos (US$368mn). Basically, the government sells only Electricaribe assets and that’s much more attractive to investors. At the same time, 500bn pesos have been allocated to invest in Electricaribe’s infrastructure this year alone.

The government has committed to an investment of $850,000mn. The new investor will have to make an investment of 8bn pesos (US$2.5bn) in a 10-year range, thus selling Electricaribe, would solve the path in the infrastructure of the Caribbean region.

Interested groups
Six local and international companies expressed formal interest in participating in the tender for the sale of Electricaribe.

In a statement, the Ministry of Mines and Energy noted that the companies submitted the documentation before the deadline for receiving expressions of interest on 31 May.

The portfolio will now review your credentials before announcing a list of prequalified groups on June 12.

the division of the company’s distribution area into two geographic segments.

The CaribeSol area comprises 1.21 million customers in the Departments of AtlĆ”ntico, Magdalena and Guajira, while CaribeMar includes 1.51 million customers in the departments of BolĆ­var, Sucre, CĆ³rdoba, and Cesar.

Investors may bid on one or both concession areas in separate tenders to take place on 24 September and 4 October. To access the process, companies must have distribution operations with at least 600,000 customers and assets totaling US$500mn.

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