Bogotá, February 25, 2026 - Astris Finance congratulates its clients Scatec ASA and Norfund on the successful financial closing of a COP 365,500 million (approximately USD 100 million) project financing for the Barzalosa project, a 130 MWp (100 MWac) solar PV project located in Nariño, Cundinamarca, Colombia.

Astris acted as exclusive financial advisor to Scatec ASA and Norfund in this transaction, which represents their first joint investment in Colombia’s renewable energy market, supporting them in the structuring and execution of the financing through to closing. Scatec is a leading global renewable energy solutions provider based in Norway and Norfund is the Norwegian investment fund for developing countries.

Barzalosa benefits from a 15-year Power Purchase Agreement (PPA) with BTG Pactual Comercializadora de Energía, covering approximately 85% of estimated generation, with the remaining output to be sold into the Colombian electricity market. The project is expected to reach commercial operation in the first half of 2027.

The lenders providing the financing are Bancolombia and Financiera de Desarrollo Nacional (FDN) for an aggregate amount of approximately COP 365,000 million, including non-recourse letters of credit facilities supporting reserve accounts, with overall leverage of approximately 70%.

“We are proud to have supported Scatec and Norfund on this transaction. Barzalosa is a strong example of how well-structured renewable projects can attract long-term capital in Colombia, and we are pleased to contribute to the continued growth of the country’s energy transition,” said Santiago Pardo, Managing Director and Head of the Andean Region for Astris Finance.

For Astris, this successful closing reflects both the strength of our sponsor-side advisory practice and our leading credentials and continued commitment to supporting renewable energy investment across Latin America.