Acumen LatAm Capital Partners made an undisclosed investment in SUNCOLOMBIA, a Colombian solar energy company providing access to reliable energy in rural areas.
(Press Release) Acumen Latam Capital Partners LLC- ALCP announces an investment in SUNCOLOMBIA, a Colombian company that uses technology and solar systems to provide access to energy for hard-to-reach rural areas of the country, and to reduce the energy footprint of public and private entities in different municipalities of Colombia. Founded in 2012, SUNCOLOMBIA has rapidly become a leading provider of clean-energy solutions, specializing in the design, commercialization, installation and maintenance of photovoltaic (PV) systems, with a presence in 22 departments of the country.
Although 97 percent of Colombia’s population is connected to the power grid, ~ 1.5 million people still do not have access to reliable energy. This ~ 3 percent of the population lives primarily in remote regions of the country that have been affected by Colombia’s 50-year armed conflict and, in many cases, lacks access to basic services such as education, energy, water and sanitation creating vulnerable living conditions.
The company focuses on two segments bringing off-grid solutions to rural regions and on-grid solar projects for public and private companies to reduce their energy footprint. In the off-grid segment, they electrify schools, bringing solar energy and innovative technology to rural classrooms, which include LAN networks for internet access and equipment such as tablets and interactive projectors to enhance the educational outcomes of students. With the public sector, they have developed solar powered street lighting and water potabilization stations, in order to provide an integral energy solution in the most remote municipalities of the country. In the on-grid segment, SUNCOLOMBIA develops solar energy solutions for private businesses that seek to improve their energy efficiency, generating savings and reducing their environmental impact.
To date, SUNCOLOMBIA has installed more than 3,200 systems representing more than 5,000 kWp, impacting the lives of more than 23,000 families and mitigating 3,845 tons of CO2 emissions. These results include the installation of solar panels in more than 500 schools in 17 departments of Colombia and the implementation of more than 52 interactive solar classrooms in rural areas, benefiting more than 16,000 students. These schools serve as community centers providing opportunities to the surrounding communities (for each classroom 12 indirect jobs are generated in each community). These projects also seek to empower teachers, training them with the appropriate use and monitoring of solar systems. To date, 162 teachers have been certified in the program, adding 3,240 hours of training in off-grid areas of the country. These figures support SUNCOLOMBIA’s commitment to strengthening education through technology.
“We are very proud to support SUNCOLOMBIA, a leading Colombian renewable energy company. This is ALCP’s first investment in the access to energy sector in Latam and it demonstrates how innovative technological solutions can contribute to closing Colombia’s energy gap”, said Virgilio Barco, Partner and Managing Director of ALCP.
“We are very happy to partner with ALCP. Colombia has great challenges that can be solved with energy and social innovation. Their support will help us achieve our goal of impacting the lives of thousands of people who are currently paying for the most expensive sources of energy, whether because of deficiency or lack of service. We believe that when energy is the source and technology is the bridge the ending result is revolutionary. This investment will allow us to continue developing innovative education and shared value projects throughout the country”, said Juan Diego Gómez, General Manager of SUNCOLOMBIA.
ALCP’s investment will support the company’s growth trajectory, increase its social impact in alignment with multiple Sustainable Development Goals, and continue to meet the needs of a growing market in Colombia.
About Acumen LatAm Capital Partners:
ALCP is an investment advisory firm focused on managing investment funds aimed at the early growth market in Latin America, particularly in Colombia, Peru and Central America, supporting high impact companies in the agribusiness, education and access to energy sectors. The creation of ALCP has been sponsored by Acumen and represents the continuation of Acumen’s impact strategy. ALCP has been designed as the next step in the scale of financing for social enterprises in the region.
Lina María Rueda, Acumen Latin America
Tel: +57 3043764266
Santiago Álvarez, Partner and Investment Director
Tel: +57 (1) 3227939