ContourGlobal sells coal-fired power plant in Colombia and continues its transition to renewables

Cuatrecasas has advised Crasodel Spain and ContourGlobal Colombia Holding, subsidiaries of ContourGlobal (KKR), on selling 100% ownership of Compañía Eléctrica de Sochagota (CES), a coal-fired power plant, as part of its efforts to move toward a portfolio primarily based on renewables.

Corporate and M&A partner Juan Felipe Vera, who led the advisory services from the Cuatrecasas Bogotá office, stated, “It had been a privilege to assist ContourGlobal with taking yet another step toward its goal of decarbonizing electricity generation. At the same time, we are proud to have contributed to the change of hands and, as a result, to the continuity of vitally important thermal assets for the Colombian energy matrix.”

The Cuatrecasas team that led the transaction was also made up of Pablo Martínez and Juan Camilo Rangel, with the participation of lawyers Nicolás Arboleda (Oil, Gas, Mining and Environment), Jaime Vargas (Tax), Natalia Fernández, Laura Garay and José Manuel Jaramillo.