Latest news with #Isagen


Zawya
21-07-2025
- Business
- Zawya
Brookfield Renewable to invest up to $1bln in Isagen
Brookfield Renewable said on Friday it will invest up to $1 billion to increase its stake in Colombian energy company Isagen S.A to about 38%. As a part of the deal, Qatar Investment Authority (QIA), an existing co-investor in Isagen, will also invest about $500 million and increase its equity interest in Isagen to about 15%. The investment will be funded through a combination of proceeds from non-recourse financings at the business and available liquidity, Brookfield said. Isagen generates stable and contracted cash flows from its large fleet of hydro assets. In addition, it also has a pipeline of renewable power projects, to support Colombia's growing power needs. (Reporting by Sumit Saha in Bengaluru; Editing by Shailesh Kuber)


Reuters
18-07-2025
- Business
- Reuters
Brookfield Renewable to invest up to $1 billion in Isagen
July 18 (Reuters) - Brookfield Renewable (BEPC.N), opens new tab said on Friday it will invest up to $1 billion to increase its stake in Colombian energy company Isagen S.A to about 38%. As a part of the deal, Qatar Investment Authority (QIA), an existing co-investor in Isagen, will also invest about $500 million and increase its equity interest in Isagen to about 15%. The investment will be funded through a combination of proceeds from non-recourse financings at the business and available liquidity, Brookfield said. Isagen generates stable and contracted cash flows from its large fleet of hydro assets. In addition, it also has a pipeline of renewable power projects, to support Colombia's growing power needs.
Yahoo
18-07-2025
- Business
- Yahoo
Brookfield Renewable to Increase Stake in a Strategic Portfolio of Hydro Assets
Brookfield Renewable will invest up to $1 billion and increase its equity interest in Isagen to approximately 38% As part of this transaction, QIA, an existing co-investor in Isagen, will invest approximately $500 million and increase its equity interest in Isagen to approximately 15% BROOKFIELD, News, July 18, 2025 (GLOBE NEWSWIRE) -- Brookfield Renewable (NYSE: BEP, BEPC; TSX: BEPC) ('Brookfield Renewable') today has announced that it will invest up to $1 billion to increase its equity interest to approximately 38% in Isagen S.A. E.S.P. ('Isagen'). Isagen generates stable and contracted cash flows from its large fleet of hydro assets. The business owns and operates an essential asset base, enhancing the reliability of Colombia's power grid. In addition, Isagen also has a pipeline of renewable power projects, which we are well equipped to develop and bring into production to support Colombia's growing power needs. This transaction re-affirms Brookfield Renewable's commitment to Colombia and will result in Brookfield Renewable's ownership interest in Isagen increasing to approximately 38%, growing the proportion of our cash flows from our hydro portfolio, an increasingly strategic part of our business given its scale, dispatchability, and baseload characteristics. The transaction is expected to be immediately accretive to Brookfield Renewable's FFO per unit and is anticipated to be approximately 2% accretive to 2026 FFO per unit, on the back of strong cash flow visibility with ~70% of the platform's generation contracted for an average of eight years. The investment will be funded through a combination of proceeds from non-recourse financings at the business and available liquidity. The transaction is expected to close in the third quarter. As part of this transaction, Qatar Investment Authority ('QIA'), an existing co-investor in Isagen, will invest approximately $500 million and increase its equity interest in Isagen to approximately 15%. This investment aligns with QIA's commitment to invest in companies that support the global transition to a low-carbon future. Brookfield Renewable Brookfield Renewable operates one of the world's largest publicly traded platforms for renewable power and sustainable solutions. Our renewable power portfolio consists of hydroelectric, wind, utility-scale solar and storage facilities and our sustainable solutions assets include our investment in a leading global nuclear services business and a portfolio of investments in carbon capture and storage capacity, agricultural renewable natural gas, materials recycling and eFuels manufacturing capacity, among others. Investors can access the portfolio either through Brookfield Renewable Partners L.P. (NYSE: BEP; TSX: a Bermuda-based limited partnership, or Brookfield Renewable Corporation (NYSE, TSX: BEPC), a Canadian corporation. Brookfield Renewable is the flagship listed renewable power and transition company of Brookfield Asset Management, a leading global alternative asset manager headquartered in New York, with over $1 trillion of assets under management. Contact information: Media: Investors: Simon Maine Alex Jackson +44 7398 909 278 +1 (416) 649-8172 This news release contains forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Forward-looking statements can be identified by the use of words such as 'will', 'expected', 'intend', 'potential', 'can' or variations of such words and phrases. Forward-looking statements in this news release include statements regarding the parties' future expectations, beliefs, plans, objectives, financial condition, assumptions or future events or performance. Although Brookfield Renewable believes that such forward-looking statements and information are based upon reasonable assumptions and expectations, no assurance is given that such expectations will prove to have been correct. The reader should not place undue reliance on forward-looking statements and information as such statements and information involve known and unknown risks, uncertainties and other factors, including the ability of the parties to realize the expected benefits of the transaction, which may cause the actual results, performance or achievements of Brookfield Renewable to differ materially from anticipated future results, performance or achievement expressed or implied by such forward-looking statements and information. Except as required by law, Brookfield Renewable does not undertake any obligation to publicly update or revise any forward-looking statements or information, whether written or oral, whether as a result of new information, future events or in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
04-05-2025
- General
- Yahoo
Colombia's wind farms bring promise and pain for indigenous group
When José Luis Iguarán steps outside his home in La Guajira, northern Colombia, he is met with a line of 10 towering wind turbines stretching across the cactus-strewn terrain toward the Caribbean Sea. The Wayuu indigenous group, which Mr Iguarán belongs to, has lived on the arid peninsula region for centuries, herding goats, tending to crops, mining salt, and fishing. With some of Colombia's most powerful winds, La Guajira has now become the epicentre of the country's shift from fossil fuels to renewable energy. But this green ambition has faced both resistance and reflection from locals, whose territory is deeply tied to culture, tradition, and a profound connection to nature. "You wake up and suddenly you no longer see the trees. Instead, you see and hear the turbines," Mr Iguarán says. His community now shares its land with Guajira 1 - one of Colombia's two operational wind farms. Another 15 wind farms are currently under construction in La Guajira, and there are plans for dozens more. "At night, the noise from the turbines disturbs our dreams. For us, dreams are sacred," Mr Iguarán adds. The Wayuu, who number around 380,000 in Colombia and extend into Venezuela, have distinct traditions and beliefs. Dreams are a bridge to the spiritual world, where they receive messages from their ancestors that are interpreted within the family. Despite the cultural disruptions, Mr Iguarán says that his community has benefited from Guajira 1. The energy company behind it, Colombian firm Isagen, has paid for them to have access to clean drinking water, better roads, and sturdy brick houses, which have replaced some of the mud and cactus ones. Isagen, which is owned by Canada's Brookfield, also pays three local communities an annual fee for the wind farm to be there, a percentage of annual electricity revenues, and 20% from the sale of carbon credits. These are bought by companies wishing to offset their carbon emissions. Mr Iguarán believes such energy projects can help bring vital development to Colombia's second-poorest region. But not everyone shares his enthusiasm. "The wind farms produce clean energy, but they create division within the Wayuu communities," explains Aaron Laguna, a Wayuu fisherman, who lives in the coastal village of Cabo de la Vela. His community is currently in the process of consultations over a wind farm due to be built nearby. He has seen others affected by projects complain about a lack of transparency, poor compensation, a disrespect of cultural norms, and corruption. "Bad negotiations are made, and the resources given [to us] aren't well managed by locals," he adds. These concerns have led to disputes with the energy companies, and even conflict within Wayuu communities. Some oppose the projects, while others feel excluded from negotiations that could bring them benefits. "There is still this idea that if it is green, it is automatically good," says Joanna Barney, director of environment, energy and communities at Colombian think tank Indepaz. It has extensively researched the energy transition and its effects on the Wayuu. "In Colombia… there isn't a solid legal framework to properly assess the environmental impacts - and the social impacts are immeasurable." In December 2024, Spanish company EDP Renováveis shelved plans for two wind farms in La Guajira, saying the projects were no longer economically viable. One factor was the doubling of local indigenous communities who said they would be affected, and therefore need compensation, from 56 to 113. EDP's decision followed the May 2023 exit of Italian multinational Enel from another planned wind farm in the region. Enel attributed its departure to "constant protests" that halted construction for more than half of the working days between 2021 and 2023. Guajira 1 was also marred by roadblocks, a common way of protesting in La Guajira when locals feel unheard. And think tank Indepaz has recorded cases of attacks against employees of the energy firms, including armed robberies and kidnappings. And in some areas it has found cases of displacement and violence between local communities who disagree over neighbouring wind farms. "We call it the 'wind wars'," says Ms Barney. For Colombian anthropologist Wieldler Guerra, there is a clear disconnect between the Wayuu and the wind farm companies. "There are two worlds talking, and they have not managed to understand each other," he says. This gap extends to the very way they perceive the wind - the element central to these projects. "For the Wayuu, the winds are people. It is not the wind, but the winds. There are eight different winds in Wayuu culture, mythological and ancestral beings with distinct temperaments that shape the surrounding environment and must be respected." By contrast, companies and the Colombian government see wind as a resource to harness for environmental progress, profit, and to address the country's energy needs. While Colombia has a relatively clean domestic electricity matrix, with nearly two-thirds coming from hydroelectricity, the country remains vulnerable to low reservoir levels, which creates a risk of energy shortages. Wind energy currently contributes just 0.1% of the energy mix. For energy companies investing in the region, the risk of conflicts with local people are a worrying prospect. One such firm, AES Colombia is developing the country's largest wind energy cluster in La Guajira, with six wind farms. The company insists it maintains an open dialogue with communities, offering fair compensation, and ensuring benefits such as clean drinking water and shares in carbon credits. But it says good community relations are not enough. "We cannot do these projects alone," says Federico Echavarría, general manager of AES Colombia. "The government must help resolve conflicts between communities." On the windswept beach in Cabo de la Vela, Mr Laguna says La Guajira has historically been neglected by the state. Education and healthcare are poor, and most rural communities do not have running water. Some people still walk hours each day to collect water from jagüeys – reservoirs filled with rainwater. His community has a small salt-water treatment plant that produces fresh water and it wants the company planning to build the nearby wind farm to expand it, so that more locals benefit. Despite the talk of progress, he points to a lingering paradox. "The worst thing is we won't receive even a single kilowatt of the electricity produced here," he laments. The plan is for the wind farm's electricity to instead be sent elsewhere, and that the village will continue to rely on generators, at least in the medium term. While the future might look bright for clean energy, many Wayuu are still anxious they will be left in the dark.


BBC News
04-05-2025
- General
- BBC News
Colombia's wind farms bring promise and pain for indigenous group
When José Luis Iguarán steps outside his home in La Guajira, northern Colombia, he is met with a line of 10 towering wind turbines stretching across the cactus-strewn terrain toward the Caribbean Wayuu indigenous group, which Mr Iguarán belongs to, has lived on the arid peninsula region for centuries, herding goats, tending to crops, mining salt, and some of Colombia's most powerful winds, La Guajira has now become the epicentre of the country's shift from fossil fuels to renewable this green ambition has faced both resistance and reflection from locals, whose territory is deeply tied to culture, tradition, and a profound connection to nature."You wake up and suddenly you no longer see the trees. Instead, you see and hear the turbines," Mr Iguarán says. His community now shares its land with Guajira 1 - one of Colombia's two operational wind farms. Another 15 wind farms are currently under construction in La Guajira, and there are plans for dozens more."At night, the noise from the turbines disturbs our dreams. For us, dreams are sacred," Mr Iguarán Wayuu, who number around 380,000 in Colombia and extend into Venezuela, have distinct traditions and beliefs. Dreams are a bridge to the spiritual world, where they receive messages from their ancestors that are interpreted within the the cultural disruptions, Mr Iguarán says that his community has benefited from Guajira 1. The energy company behind it, Colombian firm Isagen, has paid for them to have access to clean drinking water, better roads, and sturdy brick houses, which have replaced some of the mud and cactus which is owned by Canada's Brookfield, also pays three local communities an annual fee for the wind farm to be there, a percentage of annual electricity revenues, and 20% from the sale of carbon credits. These are bought by companies wishing to offset their carbon Iguarán believes such energy projects can help bring vital development to Colombia's second-poorest region. But not everyone shares his enthusiasm. "The wind farms produce clean energy, but they create division within the Wayuu communities," explains Aaron Laguna, a Wayuu fisherman, who lives in the coastal village of Cabo de la community is currently in the process of consultations over a wind farm due to be built nearby. He has seen others affected by projects complain about a lack of transparency, poor compensation, a disrespect of cultural norms, and corruption."Bad negotiations are made, and the resources given [to us] aren't well managed by locals," he concerns have led to disputes with the energy companies, and even conflict within Wayuu communities. Some oppose the projects, while others feel excluded from negotiations that could bring them benefits."There is still this idea that if it is green, it is automatically good," says Joanna Barney, director of environment, energy and communities at Colombian think tank Indepaz. It has extensively researched the energy transition and its effects on the Wayuu."In Colombia… there isn't a solid legal framework to properly assess the environmental impacts - and the social impacts are immeasurable." In December 2024, Spanish company EDP Renováveis shelved plans for two wind farms in La Guajira, saying the projects were no longer economically factor was the doubling of local indigenous communities who said they would be affected, and therefore need compensation, from 56 to decision followed the May 2023 exit of Italian multinational Enel from another planned wind farm in the region. Enel attributed its departure to "constant protests" that halted construction for more than half of the working days between 2021 and 1 was also marred by roadblocks, a common way of protesting in La Guajira when locals feel think tank Indepaz has recorded cases of attacks against employees of the energy firms, including armed robberies and kidnappings. And in some areas it has found cases of displacement and violence between local communities who disagree over neighbouring wind farms."We call it the 'wind wars'," says Ms Barney. For Colombian anthropologist Wieldler Guerra, there is a clear disconnect between the Wayuu and the wind farm companies."There are two worlds talking, and they have not managed to understand each other," he gap extends to the very way they perceive the wind - the element central to these projects."For the Wayuu, the winds are people. It is not the wind, but the winds. There are eight different winds in Wayuu culture, mythological and ancestral beings with distinct temperaments that shape the surrounding environment and must be respected."By contrast, companies and the Colombian government see wind as a resource to harness for environmental progress, profit, and to address the country's energy Colombia has a relatively clean domestic electricity matrix, with nearly two-thirds coming from hydroelectricity, the country remains vulnerable to low reservoir levels, which creates a risk of energy shortages. Wind energy currently contributes just 0.1% of the energy mix. For energy companies investing in the region, the risk of conflicts with local people are a worrying such firm, AES Colombia is developing the country's largest wind energy cluster in La Guajira, with six wind company insists it maintains an open dialogue with communities, offering fair compensation, and ensuring benefits such as clean drinking water and shares in carbon it says good community relations are not enough."We cannot do these projects alone," says Federico Echavarría, general manager of AES Colombia. "The government must help resolve conflicts between communities."On the windswept beach in Cabo de la Vela, Mr Laguna says La Guajira has historically been neglected by the and healthcare are poor, and most rural communities do not have running people still walk hours each day to collect water from jagüeys – reservoirs filled with community has a small salt-water treatment plant that produces fresh water and it wants the company planning to build the nearby wind farm to expand it, so that more locals the talk of progress, he points to a lingering paradox. "The worst thing is we won't receive even a single kilowatt of the electricity produced here," he plan is for the wind farm's electricity to instead be sent elsewhere, and that the village will continue to rely on generators, at least in the medium the future might look bright for clean energy, many Wayuu are still anxious they will be left in the dark.