Colombia’s Organización Terpel Acquires Parque Solar Planeta Rica

Parque Solar Planeta Rica is a public utilities company that owns and operates the Planeta Rica solar power generation plant, with a capacity of 26.6 MW.

The value of the transaction was not disclosed, and its closing is subject to customary conditions, including antitrust approval.

Law firm Pérez-Llorca advised Organización Terpel as lead counsel throughout the negotiation and execution of the share purchase agreement.

The firm also assisted in the due diligence process and is helping to secure the regulatory approvals.

“This transaction is significant for several reasons. Firstly, it marks a strategic entry and expansion for Organización Terpel into the renewable energy sector, aligning with global and regional trends toward energy transition and sustainability,” the law firm stated.

“The acquisition strengthens Terpel’s position in the Colombian energy market and diversifies its business portfolio beyond traditional fuels. Additionally, the deal reflects the growing importance of solar energy in Colombia’s energy matrix and demonstrates the increasing appetite of major Colombian entities for investments in clean energy infrastructure.

The transaction also highlights the ability of international renewable energy developers, such as MPC and Akuo, to attract strategic local buyers for their operational assets, further consolidating the renewable energy market in the region.”

Pérez-Llorca’s team was led by counsel María Fernanda Restrepo, along with partner Patricia Arrázola, senior associate Paola Valderrama Ortiz, associate Nicolás Rocha, and junior associate María Alejandra Gómez Fragozo.

Organización Terpel’s in-house counsel was Jorge Ríos.