Statkraft has signed an agreement to sell Enerfín Colombia, its renewables portfolio in Colombia, to the country’s national oil company Ecopetrol. Enerfín Colombia was established in 2016 and is based in Bogotá. The transaction includes staff, eight projects under development, and the 130 MW Portón del Sol solar plant. This plant entered into operation over a year ago and was the first utility-scale solar plant in Colombia. The sale is expected to be completed during the third quarter of 2025, subject to r ...

Core Insights - Statkraft has signed an agreement to sell its Colombian renewables portfolio, Enerfín Colombia, to Ecopetrol, the national oil company of Colombia [1] - The transaction includes staff, eight projects under development, and the 130 MW Portón del Sol solar plant, which was the first utility-scale solar plant in Colombia [1] - The sale is expected to be completed in the third quarter of 2025, pending regulatory approvals [2] Company Strategy - The divestment of Enerfín Colombia is part of Statkraft's strategy to streamline its operations outside core markets, confirming the company's ability to build a skilled team and an attractive portfolio in Colombia [3] - Statkraft's acquisition of the Colombian renewables portfolio in May 2024 significantly strengthened its position in Spain and Brazil, making it one of the top 10 wind power producers in those countries [4] - The acquisition added a portfolio of 1.5 GW of wind and solar power projects in operation and under construction, along with a pipeline of projects under development, aligning with Statkraft's strategy to grow in selected markets in the Nordics, Europe, and South America [4]

Core Viewpoint - Caledonia Mining Corporation has successfully completed the sale of its solar plant in Zimbabwe for $22.35 million, allowing the company to strengthen its cash position and focus on its core gold mining operations [1][5][6]. Financial Summary - The sale of the solar plant was finalized on April 11, 2025, with a pre-tax cash consideration of $22.35 million [1]. - Prior to the sale, Caledonia's consolidated net debt was $3.8 million, down from $8.7 million at the end of 2024. After the sale, the pro forma consolidated net cash balance is projected to be $18.6 million [4]. Operational Impact - The solar plant, which has been operational since February 2023, has generated over 57,722 MWh of power and will continue to supply energy to Blanket Mine under an exclusive power purchase agreement [3][6]. - The sale aligns with Caledonia's strategy to focus on gold mining while ensuring that Blanket Mine retains access to renewable energy, meeting approximately 20% of its daily electricity needs [2][6]. Strategic Context - The decision to sell the solar plant was made following a competitive bidding process, allowing Caledonia to reallocate capital towards growth initiatives in its core business [2]. - The construction of the solar plant was initially financed through a share offering that raised $13 million in 2020 [3].