Banco BTG Pactual finances first biomass and wood pellet plant in Colombia

Cuatrecasas has advised Banco BTG Pactual Colombia on becoming the only financier of the first biomass and wood pellet plant in Colombia. This is one of the fastest growing renewable energy sources in the world.

The transaction enabled Colombian bioenergy company Bioena S.A.S., to obtain a loan in just over one month. This financing marks an important milestone in Colombia’s energy transition, enabling the construction and implementation of the first biofuel plant in the lower basin of the Magdalena river.

It is estimated that the plant will come into operation during the first half of 2025, producing 150,000 tons of renewable energy per year. It will become an alternative source for generating energy, reducing dependency on fossil fuels and lowering CO₂ emissions by up to 85%.

Its construction and implementation will also be an economic boost for the sector where the project will be carried out, promoting job creation and technology transfer to local communities.

Natalia Arango, expert finance lawyer who led the advisory team alongside Simón Escobar and Anita Zuluaga, commented on the transaction: “We are really proud to have advised Banco BTG Pactual Colombia on this significant transaction. The financing of the first biomass and wood pellet plant in Colombia not only represents an important milestone for Bioena and Ashmore, but also strengthens the bank’s commitment to promoting renewable energy solutions. This project reflects BTG Pactual's leadership in the investment sector in Latin America and its vision for supporting sustainable initiatives. At Cuatrecasas, we appreciate the opportunity to have contributed our knowledge and experience to this transaction.”