News | 14 April 2026
BBVA leads the financing for Atlas Renewable Energy’s second solar project in Colombia
The transaction will contribute to the development of new renewable capacity in the Latin American country, supporting the energy transition and sustainable generation in the region. The project, developed by Atlas Renewable Energy, reinforces BBVA’s leadership in cross-border transactions and its commitment to sustainable finance, backing projects that directly contribute to decarbonisation and the development of clean energy.
BBVA Corporate & Investment Banking (CIB) has closed a COP 292.1 billion financing for the construction of the P. El Campano photovoltaic project, developed by Atlas Renewable Energy, part of Global Infrastructure Partners (GIP), a BlackRock company.
Located in Córdoba, Colombia, the project involves the construction and operation of the El Campano Solar photovoltaic plant, with a capacity of 128.8 MWdc (99,9 Mwac), contributing to strengthening the share of renewable energy in the country’s energy mix.
BBVA CIB played a key role in the transaction, acting as Mandated Lead Arranger (MLA), issuing bank for letters of credit and provider of hedging solutions. The financial structure enables risk mitigation and supports the project’s viability, highlighting the bank’s ability to deliver complex, tailored solutions adapted to the local market. Originated from the UK, the transaction underscores the strength of BBVA CIB’s global model, which combines the expertise of international teams with deep local market knowledge.
"This transaction reflects the strength of our cross-border capabilities and the role of the institutional business, particularly Financial Sponsors, as a strategic pillar for BBVA CIB. We worked closely with Atlas Renewable Energy, structuring a tailored financial solution for its project in Colombia, reinforcing our ambition to become a trusted partner for institutional clients in the execution of their long-term growth plans," said Juan Blasco, Head of Institutional Business at BBVA Corporate & Investment Banking.
"The financing of the El Campano Project has enabled BBVA to leverage its full expertise and global reach in the industry, while at the same time delivering a strong local impact, as this project will contribute to a more efficient energy mix in Colombia, which is highly relevant for the country’s economic and social development," said María Catalina Laurens, Head of BBVA CIB in Colombia.
Atlas Renewable Energy is a leading international provider of clean energy infrastructure, with a renewable asset base exceeding 10.8 GW. Since 2017, the company has specialised in the development, financing, construction and operation of large-scale renewable energy projects. The P. El Campano project is part of its strategic partnership with ISAGEN in Colombia to develop a portfolio of close to 1 GW of renewable projects, and is the second project jointly developed by the two companies.
With this transaction, BBVA CIB reinforces its role as a leading financial partner in the development of sustainable infrastructure in Latin America, contributing to a more efficient energy model aligned with the region’s climate challenges.