Climate Fund Managers and Erco Energía Sign Agreement to Sell Pétalo del Norte de Santander I to Organización Terpel

• Organización Terpel S.A, has entered into an agreement to acquire 100% of Pétalo del Norte de Santander I, a 26.4MWp solar plant in Northern Colombia, subject to regulatory approval
• The plant generates ~45 GWh of renewable electricity annually, serving ~32,600 people and avoiding ~13,276 tonnes of CO₂ emissions.
• The transaction will mark Climate Fund Managers’ first exit in Latin America

Bogotá, 26 February 2026: Climate Fund Managers, a climate-focused blended finance investment manager operating in emerging markets across Africa, Asia and Latin America, and Erco Energía, a Colombian renewable energy developer, have entered into an  agreement with Organización Terpel S.A., a leading Colombian energy distribution and retail company, for the sale of their respective interests in the Pétalo del Norte de Santander I solar plant (subject to regulatory approvals). The transaction reflects the continued maturation of Colombia’s renewable energy market and growing participation from strategic investors.

Located in Norte de Santander in the municipality of La Esperanza, Pétalo del Norte de Santander I is a 26.4 MWp solar PV facility. The solar plant generates more than 45 GWh of clean energy annually, avoiding an estimated 13,276 tonnes of CO₂ emissions each year and serving approximately 32,600 people.

Developed by Erco Energía and Climate Fund Managers, the project began dispatching electricity in August 2025. Climate Fund Managers invested approximately USD 18 million in development and construction capital through Climate Investor One, its EU-supported renewable energy infrastructure fund. Pétalo del Norte de Santander I was Climate Fund Managers’ first energy project in Latin America, and this transaction represents the firm’s first exit in the region.

The project created 270 jobs, 64% of which were filled by local workers, with women representing 30% of the workforce.  Approximately USD 125,000 was invested in community development initiatives, benefiting an estimated 2,400 people in neighbouring communities.

Juan Paez, Head of Latin America at Climate Fund Managers, said: “We are proud to have invested in Pétalo del Norte de Santander I from its development stages. Working alongside our partners, we are proud to have delivered a high-quality renewable energy asset that not only fully complies with IFC guidelines but has contributed significantly to improving the living standards of the local communities.  While we will remain in the area to continue our investment in Project Pradera, we are pleased to see that Pétalo will enter its next phase under the stewardship of a responsible investor like Organización Terpel.”

For Organización Terpel S.A., the acquisition aligns with its ongoing efforts to broaden its energy portfolio and expand its participation in renewable energy generation.

Notes to Editors:

About Climate Fund Managers:

Climate Fund Managers is a climate-focused blended finance investment manager operating in emerging markets across Africa, Asia, and Latin America. The firm raises and deploys blended climate finance funds, working in partnership to deliver climate-resilient solutions at scale and pace. With over USD 2.8 billion in assets under management and targeting an additional USD 4 billion, its private equity and private credit facilities address key areas of climate change mitigation and adaptation, including renewable energy, green hydrogen, energy transition, water, waste and sanitation, and biodiversity and oceans infrastructure. Climate Fund Managers currently has 50 active projects across its Climate Investor One, Two and Three equity funds and has recently expanded into private credit through the GAIA Climate Loan Fund. Its funds are supported by public and private sector organisations. Public capital is deployed strategically to balance risk and mobilise private sector capital, enabling investment across the project lifecycle – from development to construction and operation. Established in 2015, the firm is a joint venture between Dutch development bank FMO and Sanlam InfraWorks of the Sanlam Group of South Africa, with offices in The Hague, Cape Town, Singapore, and Bogotá. www.climatefundmanagers.com.

About the European Union:

The European Union (EU) is an economic and political union of 27 European countries. It is founded on the values of respect for human dignity, freedom, democracy, equality, the rule of law and respect for human rights, including the rights of persons belonging to minorities. It acts globally to promote sustainable development of societies, environment and economies, so that everyone can benefit.  The total EU contribution to CFM-managed funds is EUR 178 million to date plus a EUR 205 million EFSD+ guarantee, making them the largest public investor in CFM operations. https://european-union.europa.eu

For more information, please contact Sophie Blythe: s.blythe@climatefundmanagers.com.

Disclaimer

CFM is a manager of alternative investment funds and has obtained an AIFMD license from the Dutch Authority for the Financial Markets (Autoriteit financiële markten) pursuant to section 2:65 of the Dutch Act on Financial (Wet op het financieel toezicht). CFM is included in the public register maintained by the AFM on its website under license number 15004367. CFM is the appointed fund manager of Climate Investor One, Climate Investor Two and Climate Investor Three. The Construction Equity Funds of Climate Investor One and Climate Investor Two and the Climate Investor Three Fund are registered Alternative Investment Funds with the AFM.