Solarpack Corporación Tecnológica, S.A. (the "Company" or “Solarpack”), through its Colombian subsidiary, was awarded long-term clean energy contracts for two solar photovoltaic developments with a total installed capacity of 252 MWp in Colombia. The projects are in the Cesar and Córdoba departments.

The award is part of an auction process launched by the Colombian Ministry of Mines and Energy that saw 17 important international and local energy players competing. Solarpack was awarded contracts with prices above the average auction price of COP155/kWh, according to a press briefing by the Energy and Gas Regulatory Commission.

Following the auction decision, Solarpack can move ahead with the financing and construction of the projects, which will generate a total of around 450 GWh a year, with energy supplies starting in 2023.

The awarding of these contracts, in Colombian pesos and with 15 years’ duration from the start of supply, adds new order intake to the company’s pipeline, in line with the strategic update shared with the market in March 2021.