Doha: The Qatar Investment Authority (QIA) announced on Sunday that it closed a USD 535 million investment in ISAGEN, the largest pure-play renewable platform and third largest power generator in Colombia.
QIA, an existing co-investor in ISAGEN, has increased its equity interest in ISAGEN to approximately 15 percent.
The Authority explained in a statement that the investment is aligned with QIA's commitment to invest in companies that support the global transition to a low-carbon future.
At the same time, ISAGEN's largest shareholder, Brookfield Renewable Partners, is investing up to USD 1 billion to increase its equity interest to approximately 38 percent.
ISAGEN is the largest pure-play renewable platform and third largest power generator in Colombia, with a market share of approximately 18 percent of total annual generation volume and 25 percent of renewable generation volume. ISAGEN is comprised of 18 power plants with a total installed capacity of approximately 3.1GW.
ISAGEN generates stable and contracted cash flows from its large fleet of hydro assets.
