Colinversiones strengthens

Colinversiones strengthens

Between 2005 and 2006, a capitalization of Colinversiones occurs through the issuance of shares worth COP $300,000 million (subscribed above 99%). An exchange of Conavi shares for South American Investment shares was also carried out. The company adopts the Code of Governance, in order to protect and preserve the ethical integrity of the company and maintain proper management, transparency and trust of those who invest in it.

In addition, the company buys 9.7% of Colombia's Stock Exchange and expanded its involvement in the hotel sector with the acquisition of the Hotel Meliá in Pereira, today Pereira's Hotel.

In June 2006, after the resignation of Dario Múnera Arango, Juan Guillermo Londoño Posada became CEO. 

In December 2006, the organization renewed its commitment with society and, with initial assets of COP $4,500, structures the Celsia's Foundation, focused in education.


The electrical energy, new investment focus

The electrical energy, new investment focus

In 2007, the Hotel in Pereira and the Hotel Las Lomas in Ríonegro set in motion the process of remodeling their physical facilities and expansion of its service portfolio, investing COP $18,000 million, between the two projects, which complements the transformation plan of these assets of the company, initiated with the Intercontinental Hotel, where COP $18,000 million were equally invested.

In the same way, the year 2007 became a period of great significance for Colinversiones thus continuing the process of building a strong and promising future, begins a process of integral transformation, establishing a new strategy.

For this, the company works with national consultants and foreign investment bankers to identify the sector that would become the new focus of investment for the company: power generation.​

As the beginning of the materialization of this targeting strategy on December 3rd, 2007, Celsia acquires Termoflores S.A E.S.P, power plant located in Barranquilla with a generation capacity of 441 MW from thermal to gas, that has an ongoing expansion project (Flores IV) that will allow to generate 169 MW additionally to the current capacity, for a total capacity of 610 MW.


The targeting of investments and divestments begins

The targeting of investments and divestments begins

In 2008, a year of significant progress, the organization continued the process of focusing its investments in the energy sector, acquiring two power plants and an electricity generation project:

  • Meriléctrica S.C.A. E.S.P., which totality of shares were received by Colinvesiones due to the merger of the company with Inversiones e industria S.A (IEI), Antioqueña de inversiones S.A (ADI) and Compañía Nacional de Inversiones Ltd. (CNI). This plant, located in Barrancabermeja, has a generating capacity of 169 MW.
  • Generar S.A. E.S.P., this company acquired by Celsia by an OPA, owned the Rio Piedras central, Jericó, Antioquia, which has a generating capacity of 19.9 MW.
  • Proyecto Hidromontañitas, which the company acquired 100% of the assets related to the project, included, among others, studies, environmental permits and licenses required for the construction of the 19.9 MW hydro plant, located in jurisdiction of the municipalities of Donmatías and Santa Rosa de Osos, Antioquia.

Similarly, in 2008 the compañía entered into a share sale-purchase agreement with Kimberly-Clark Worldwide, Inc., of its part in Colombiana Kimberly Colpapel S.A and Papeles del Cauca S.A. This transaction was completed on January 23rd, 2009.

On the other side, in 2008 Colinversiones adopted a new Code of Corporate Governance, which contains transcendent topics for the functioning of society and the strengthening of relations with shareholders, employees and other groups of interest.


EPSA, a great acquisition

EPSA, a great acquisition

In December 2009, Colinversiones, through its subsidiary Colener S.A.S acquires 47.3% of Pacific Power company S.A., EPSA, after making a public acquisition offer (OPA).

EPSA, located in Yumbo (Valle del Cauca), is the fifth largest electricity generator in the country with a capacity of 1,068 MW as follows: 914 MW in nine hydroelectric plants (Alto Anchicayá, Bajo Anchicayá, Salvajina, Calima, Hidroprado and four smaller plants); 140 MW in a PPA (Power Purchase Agreement) held with Termovalle until 2018, and 14 MW available in three plants of CETSA S.A. E.S.P., of which EPSA owns 87.54% (Riofrío I, II and The Rumor Riofrio). In distribution and commercialization, EPSA serves 39 municipalities of Valle del Cauca, where has more than 480,000 customers, including residential, commercial and industrial users; also has 273.2 km of transmission lines of 230 KV.

In late December 2009, a merger was perfected by absorsion among Colivenrsiones S.A. E.S.P. (Celsia today, and acquiring company), Generar S.A E.S.P., Meriléctrica S.A., Meriléctrica S.A. & Co.. S.C.A. E.S.P., Compañía Colombiana de Energía S.A.S. and Hidromontañitas S.A. E.S.P. (acquired companies), in order to improve work processes and the corporate structure.