Isagen Plans Wind and Geothermal Projects, CEO Tells Espectador

Colombian hydropower producer Isagen SA is looking at wind and geothermal plants as part of a 3-gigawatt pipeline of projects, Chief Executive Officer Luis Fernando Rico said in an interview with El Espectador.

The Medellin, Colombia-based company plans to build a 32-megawatt wind farm in the northern department of La Guajira for about $50 million, the newspaper quoted Rico as saying.

Isagen, whose share price tumbled last week after the Colombian government said it postponed the sale of a majority stake in the company at the request of would-be bidders, is also studying a 50-megawatt geothermal project in Caldas department as part of a $1.5 billion investment, El Espectador reported.

The company is in talks with Ecuador’s government to develop geothermal technology in the border area, Rico was quoted as saying.

To contact the reporter on this story: Vanessa Dezem in Sao Paulo at vdezem@bloomberg.net

To contact the editors responsible for this story: Reed Landberg at landberg@bloomberg.net James Attwood, Will Wade

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