Bancolombia and Celsia launch investment platform to develop sustainable projects

Cuatrecasas advised Bancolombia Investment Bank on entering into an agreement with Celsia S.A. E.S.P.—an energy company in the Argos Group—with which they have formed a strategic alliance to create an investment platform focused on developing solar generation and energy efficiency projects for companies.

With this agreement, Bancolombia forges ahead with its mission to promote the construction and development of more sustainable cities in Colombia. The launching of this platform also enables the bank to advance toward its goal of granting a minimum of $41.2 billion in funding this year to protect the environment and improve the quality of life in Colombia. This enables the Bancolombia Group to move forward with its business and maintain its corporate strategy in line with the United Nations’ Sustainable Development Goals.

The team advising on the transaction was made up of Cuatrecasas lawyers Manuel Quinche, Juan Felipe Vera, Fabio Ardila, Pablo Martínez and José Manuel Castillo.