Glenfarne Announces Acquisition of Termonorte Power Plant in Colombia

NEW YORK--(BUSINESS WIRE)--Glenfarne Asset Company, LLC (“Glenfarne”), a developer, owner, and operator of energy and infrastructure assets across the Americas, announced today it has acquired Termonorte Colombia S.A.S. (the “Plant” or “Termonorte”), a power plant located near the port of Santa Marta in Colombia. The acquisition reinforces Glenfarne’s commitment to providing grid stability to Colombia and the entire Latin American region.

Termonorte has an installed capacity of 93 MW and began operations in December 2018. The Plant can operate on both natural gas and liquid fuels and is strategically located with a direct connection to the Promigas gas pipeline.

“Termonorte plays a critical role for the energy transition in Colombia by offering a reliable, flexible generation resource in a region with limited firm capacity. Termonorte’s attributes are an ideal complement to the intermittent renewable generation resources being deployed throughout the Caribbean region. We look forward to working with the authorities, regulators, and the local communities to serve as a cornerstone of the Colombian power system for years to come,” said Bryan Murphy, Managing Director of Glenfarne.

Glenfarne is also a joint venture partner in EnfraGen, LLC, a separately managed company which owns Prime Energia Colombia (“Prime Energia”) as well as other Latin American power assets. Termonorte will operate separately from Prime Energia in Colombia acting as an independent agent in the Colombian electricity market.

About Glenfarne Asset Company, LLC

Glenfarne Asset Company, LLC is a subsidiary of Glenfarne Group, LLC, a privately held energy and infrastructure development and management firm based in New York City and Houston, Texas with offices in Dallas, Texas; Panama City, Panama; Santiago, Chile; Bogota, Colombia; Rio de Jainero, Brazil; Seoul, South Korea; and Ho Chi Minh City, Vietnam. Glenfarne’s seasoned executives, asset managers, and operators develop, acquire, manage, and operate energy infrastructure assets throughout North and South America and Asia. For more information, please visit www.GlenfarneGroup.com.