Ecopetrol, Colombia’s largest petroleum company, has announced that it had concluded negotiations with Grenergy Renovables for the potential acquisition of seven Colombian companies holding solar PV projects. The assets are located across Córdoba, Cesar, Magdalena, and Sucre and were designed for about 12.6 MW each. The company said the transactions need required conditions and legal approvals. Ecopetrol said the projects would support added capacity toward its 900 MW goal in the 2040 Strategy. The company said the assets are intended to support low-emission generation for internal use. Ecopetrol added that the projects could lower bilateral contract reliance and reduce exposure to spot market purchases. The company confirmed that final values and closing details would be released once all transaction requirements are met.Recently, Ecopetrol had expanded its position in Colombia’s renewable sector when it acquired Statkraft’s solar portfolio.