Bogotá, Colombia | January 28, 2026
Greenwood Energy announces the financial close of TERRɅ Site I, the first phase of the TERRɅ INITIɅTIVE, a private–indigenous solar energy platform in the Sierra Nevada de Santa Marta. Developed in partnership with the Arhuaco People, this milestone sets a precedent in Colombia by demonstrating that it is possible to structure sustainable infrastructure projects that integrate long-term financing, active community participation, and high environmental standards.
This is the first project of this scale in Latin America to reach financial close under a model developed in association with an indigenous community. In the specific case of Colombia, where more than 100 indigenous communities exist, this achievement demonstrates that large-scale renewable energy projects can simultaneously contribute to the energy transition, build trust among institutional investors, and promote inclusive development models that respect both the territory and the indigenous communities that inhabit it.
The financial close was completed in the last week of 2025 with the signing of the Project Finance Agreement with Financiera de Desarrollo Nacional [FDN] on December 24, and the Corporate Financing Agreement with the Emerging Market infrastructure investor ImpactA Global on December 30. These agreements will enable the start of construction of TERRɅ Site I in the municipality of El Copey, Department of Cesar, including two solar plants with a total installed capacity of 52 MWp, as well as the first TERRɅ village [the “Estrella del Amanecer”], with an investment exceeding USD 50 million. The structure also includes the payment of an Environmental Fee to the community for each kilowatt-hour sold to the grid, to be allocated to a land acquisition and preservation fund managed directly by the Arhuaco People.
The financing provided by FDN amounts to COP 163 billion [~USD 42.5 million]. ImpactA Global participates as acatalytic investor, subordinated to FDN, supporting the project’s social and environmental approach. This result is the outcome of an extensive and coordinated effort among Greenwood Energy’s financial, legal, technical, environmental, and social teams, together with the financing institutions.
Juan Pablo Crane, Chief Executive Officer of Greenwood Energy, stated: “The confidence of institutions such as FDN and ImpactA Global was grounded in the strength of TERRɅ’s social and environmental components and in its alignment with the United Nations Sustainable Development Goals and a just energy transition. This is complemented by the project’s technical and financial robustness, Greenwood Energy’s experience in developing renewable energy assets, and the support of Libra Group.”
From a strategic perspective, this financial close consolidates Greenwood Energy as a platform capable of structuring, building, and operating renewable energy assets under high technical and financial standards, and demonstrates that community-centered development models can be both viable and attractive to institutional investors.
Enrique Cadena, Vice President of Structured Finance at FDN, noted: “This is a project unlike those we have previously financed in the renewable energy sector –a sui generis project, both in terms of its structuring scheme and the way the sponsor, Libra Group—through its vehicle Greenwood Energy—has approached its development. The Arhuaco community has participated from the initial stages, not only in understanding the project but also with an active role in its structuring. We believe it is essential to highlight this model with a view to replicating it in other regions of the country, involving communities from the earliest stages.”
In turn, Victoria Miles, Founder and Chief Executive Officer of ImpactA Global, said: “We are proud to participate in this pioneering project in Colombia and Latin America. ImpactA Global firmly believes that the TERRɅ INITIɅTIVE will become a reference for other renewable energy projects by demonstrating how to co-create a partnership between the private sector and indigenous communities to deliver shared prosperity and a just energy transition.”
TERRɅ INITIɅTIVE is an initiative of the Arhuaco People and Greenwood Energy, grounded in principles of respect, trust, and complementarity. Throughout the structuring process, this relationship has given rise to an innovative model of collaboration between an indigenous community and a private company to advance a just energy transition in Latin America.
Across its three phases, TERRɅ will develop 156 MWp of solar power plants connected to the National Interconnected System [SIN], as well as three new indigenous villages. These components will be located in the lower areas of the Sierra Nevada de Santa Marta, near the perimeter of the Arhuaco ancestral territory, with the objective of minimizing environmental impacts and offsetting them within the project area through traditional and technical mechanisms.
Additionally, after 25 years of operation, all solar assets will be transferred to the community so they can continue to operate them directly.
In environmental terms, this first phase of TERRɅ will avoid approximately 14,000 tons of CO₂ emissions per year. On the social front, in addition to the construction of the first indigenous village for nearly 50 families, technical training programs will be implemented, and jobs will be created during both the construction and operation phases.
Greenwood Energy began preliminary construction activities in November 2025 using its own resources. According to the planned schedule, and with the financial close now completed, the project is expected to begin injecting solar energy into the grid in the second quarter of 2027.
With this milestone, TERRɅ INITIɅTIVE enters its execution phase and is consolidated as a project that integrates clean energy, territorial development, and community governance. Its first phase marks the beginning of a progressive implementation that will allow the model to scale, generate learnings for the sector, and make a tangible contribution to Colombia’s energy transition through an approach rooted in respect for the territory and its communities.
About Financiera de Desarrollo Nacional [FDN]
FDN is Colombia’s development bank, unique in its kind in the country and one of the few in Latin America specialized in the structuring and financing of infrastructure projects. FDN has consolidated its position as a strategic partner for Colombia’s development, leading the mobilization of financial resources for key projects across sectors such as energy, transportation, social infrastructure, ports, and connectivity. The bank plays a fundamental role in strengthening Colombia’s infrastructure and in attracting long-term investment for initiatives that drive competitiveness, sustainable growth, and the well-being of Colombians.
About ImpactA Global
ImpactA Global is an international investment fund specialized in financing sustainable infrastructure projects in emerging markets. It is composed of a high-level team of professionals with extensive experience in structuring and executing complex financings, as well as in portfolio and risk management. Its reach is strengthened by a solid global network that enables it to mobilize capital toward transformative projects with economic, social, and environmental impact.