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.

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