US based Greenwood Energy has announced the financial close of TERR’s Sierra Nevada de Santa Marta. The financial close was completed in December 2025 through project finance from Financiera de Desarrollo Nacional and corporate financing from ImpactA Global. The financing enabled construction of two solar plants totaling 52 MW and the first TERRɅ village in El Copey, Cesar, with investment exceeding $50 million. The structure included an environmental fee per kilowatt-hour sold to the grid, allocated to a community-managed land fund. The project marked the first large-scale renewable energy project in Latin America to reach financial close under an indigenous partnership model and formed part of a broader three-phase platform totaling 156 MW. Construction activities began in November 2025, solar injection was expected in Q2 2027 and the assets were planned to be transferred to the community after 25 years of operation.