In mid-November of last year, Promoenercol and Egal inaugurated the Bayunca I Solar Park, with a capacity of 3.6 MW.
The plant, located in Cartagena de Indias, is selling the energy it produces to a trading company under a 20-year power purchase agreement (PPA).
"This was the first grid-connected plant in Colombia that was developed and built by independent operators like us, " said José Manuel Izcue , President of Promoenercol, differentiating itself from the already operational projects of incumbent companies, and which also sells its energy to a client not belonging to the same business group.
Along these lines, the executive acknowledges: "We've had a 2020 that, despite how complicated it was, has been very good."
And it predicts a promising 2021.
Last year, Promoenercol finalized an investment plan for 400 MW of photovoltaic solar energy (they have more than 650 MW under development) that will be operational in 2024.
Of that total, 300 MW are related to large grid-connected plants and the remaining 100 MW to Distributed Generation projects.
"Of those 400 MW, we already have 282 MW contracted with private clients (commercial and industrial)," Izcue specifies.
He notes that some of these projects are already underway.
"In 2021 we will build 135 MW in utility scale (large plants) and we expect to build 30 MW more in Distributed Generation," he projects and estimates that all this power will be operational by the end of the first quarter of 2022.
With 170 MW in operation, Promoenercol would establish itself as one of the most important solar energy companies in Colombia.
To date, there are less than 200 MW of photovoltaic systems in operation in the country. 
José Manuel Izcue, President of Promoenercol, during the inauguration of Bayunca I Business Model On the other hand, Izcue explains that the business model of all the projects they have in the pipeline advances through contracts with the private market.
"We always go with the long-term energy sales model through a PPA," he emphasizes.
Among the users with whom they have already signed clean energy supply agreements or who have been awarded and are closing contracts, the Reve Group (Justo&Bueno and Tostao) and marketers such as Vatia and PEESA stand out, and other large firms that will consume clean energy that for corporate reasons cannot yet be revealed.
Izcue points out that the contract term is around 15 to 25 years.
"We have a very balanced business plan, we are happy because we are signing many PPAs that meet bankable standards, and there are others in the pipeline," says the president of Promoenercol.
When asked about the possibility of the company participating in the long-term renewable energy auction that the Government is preparing for this year and in which the Renovatio group is carrying out, Izcue replies that it will not.
"Auctions are positive for the market but they don't fit with our business strategy," the executive confided.