Zelestra has completed the sale of its Latin America platform to Promigas in a transaction valued at approximately $1.1 billion, including project finance debt. Promigas is a multi-energy holding company based in Colombia and this sale was originally announced in December 2025.
The acquired portfolio comprises around 3,500 MW of operational, under construction, or in development renewable energy projects. The transaction covers Zelestra’s operations in Chile, Peru, and Colombia. However, Zelestra’s EPC division will continue to operate in Peru and Chile.
In April 2026, Zelestra and EDP signed a power purchase agreement (PPA) to hybridise an operational solar plant with battery storage. As per the agreement, Zelestra will add a 160 MWh BESS to the 50 MW Pizarroso solar plant in Cáceres. The solar plant has been operational since 2023. EDP, the current offtaker for the solar plant, will use the battery storage to improve energy management and enhance system flexibility.
In March 2026, Zelestra commissioned three solar plants, Belinchón I, II and III, in Castilla-La Mancha, Spain, with a combined capacity of 162 MW. The projects are located in Cuenca and were completed within 14 months by the company’s EPC team. Additionally, the operational plants are expected to avoid more than 42,700 tonnes of carbon emissions annually. A total of 275,000 solar modules have been installed across the three plants.
REGlobal’s Views: This deal and the sale of the Latin America portfolio will allow Zelestra to focus more on growth in markets like the US, Germany, Italy and Spain and cater to more energy intensive data center clients in these locations. Meanwhile, for Promigas, a major natural gas player, this transaction will help in expanding its renewable energy portfolio. Further, this also marks the company’s expansion in the Chilean market, apart from its existing operations in Peru and Columbia.