MPC Energy Solutions (MPCES) and Akuo Energy have started construction of Parque Solar Planeta Rica, a 26.55MW solar photovoltaic (PV) project in Colombia. The solar power project is a joint venture between the Dutch and the French firms. It will involve an investment of around $24 million. Parque Solar Planeta Rica is expected to begin […]
Banco Santander has expanded its global trade platform for companies by acquiring a 50.1% stake in Spanish fintech company Mercury Trade Finance Solutions (Mercury TFS) for €30 million. Mercury TFS is a trade finance digitalization software provider, which specializes in software solutions designed for automating the end-to-end management of trade finance transactions for corporate customers. […]
Hexion, an Ohio based thermoset resins manufacturer, has signed a deal to divest its paint manufacturing plant in Yumbo, Colombia to a joint venture led by Master Paints & Chemical Corporation for an undisclosed price. The paint manufacturing plant in Yumbo produces decorative paints under the Algreco brand, among others, and also private-label paints. The […]
Frontera Energy and Parex Resources have pulled off an oil and gas discovery in the VIM-1 block in the onshore Lower Magdalena Valley basin in Colombia through the drilling of the La Belleza-1 exploration well. Both the Canadian oil and gas companies hold a 50% stake each in the VIM-1 block. According to Frontera Energy, […]
Colombian oil and gas company Ecopetrol and Royal Dutch Shell are joining forces to develop the newly discovered offshore Colombian Caribbean gas province. In this connection, Shell, through its subsidiary, Shell EP Offshore Ventures agreed to acquire a stake of 50% in the Fuerte Sur, Purple Angel, and COL-5 blocks. These Colombian Caribbean deep-water blocks […]
GeoPark acquisition of Amerisur Resources : Latin American oil and gas company GeoPark has wrapped up its previously announced £242 million all-cash acquisition of UK-based Amerisur Resources. The deal, which was announced in November 2019, gives GeoPark 13 production, development and exploration blocks located in Colombia. Included in these are a dozen blocks operated by […]
Maersk Drilling has bagged a contract worth $18.2 million for its Maersk Valiant drillship from Noble Energy for the drilling of a well in Colombian waters. The contract for the Danish drilling rig operator is anticipated to begin in the third quarter in 2020 in direct continuation of the Maersk Valiant drillship’s previous contract. Estimated […]
AlphaCredit, a Latin American fintech company, has raised $125 million in a Series B equity financing round led by the Latin America Fund of Japan’s SoftBank. The Latin American-focused fintech company, through its AXS Access, Check!, Alcanza Capital and Bontu, AlphaCredit platforms, serves small and medium enterprises (SMEs) in Mexico and Colombia with consumer lending […]
Zijin Mining acquisition of Continental Gold : Chinese miner Zijin Mining Group has signed an all-cash deal worth $1.05 billion to acquire Continental Gold, which owns 100% of the Buritica gold project in Colombia. The Buritica gold mine is being developed by the Canadian gold miner in the Antioquia Department. Scheduled to be brought into […]
Northland Power acquisition of EBSA : Canada-based Northland Power has agreed to acquire a 99.2% stake in Colombian regulated utility Empresa de Energía de Boyacá (EBSA) for C$1.05 billion, as per the latest energy acquisition news. The acquisition will expand Northland Power’s Latin American energy infrastructure business into Colombia. The acquisition of EBSA from Fondo […]