Celsia Revolving WC (IFC-44027)

  • Colombia
Geographic location where the impacts of the investment may be experienced.
Specific Location
Guajira, Valle del Cauca, Tolima, Atlántico and Santander departments of Colombia
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
  • Climate and Environment
  • Energy
  • Infrastructure
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 140.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS May 13, 2022

Disclosed by Bank Apr 1, 2022

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

 Celsia Colombia S.A E.S.P. (“Celsia” or “the Company” - https://www.celsia.com/es/), is a vertically integrated utility and one of the largest private-sector energy companies in Colombia with hydro, solar and thermal generation as well as transmission, distribution, and energy commercialization.  The proposed investment entails an up to US$140 million equivalent COP-linked, 5-year unsecured corporate revolving facility to IFC’s existing client, Celsia Colombia S.A E.S. P (formerly EPSA, “Celsia Colombia” or “the Company”). The proposed revolving facility could be used for: i) construction of renewable energy projects and/or acquisition of renewable energy assets; and (ii) financing of regulatory and maintenance capital expenditure on the transmission, distribution, and commercialization segments (the “project”). Under this revolving facility, any proposed investment opportunity will be presented to IFC together with the technical and environmental and social (E&S) due diligence conducted by experienced consultants. Accordingly, IFC will decide if:  i) approve disbursement of the requested amount; ii) approve disbursement with the implementation of required actions determined by IFC; or iii) cannot provide funding for the proposed project under this facility; compliance with IFC Performance Standards being a key criterion in making this decision.  As part of the candidate’s pipeline for this revolving facility, Celsia has several solar projects and two wind power projects under consideration. Celsia’s Solar projects are mostly located in 4 departments, in the North and South West of Colombia including Valle del Cauca, Tolima, Atlántico and Santander departments. The wind power projects in development, Camelia (270 MW) and Acacia 2 (91,2 MW) and its associated transmission lines, are in the department of La Guajira covering the municipalities of Maicao, Albania and Uribia.In February 2018, IFC financed Empresa de Energia del Pacifico S.A. ESP (EPSA)’s construction and commissioning of the first utility-scale, grid-connected solar power plants in Colombia with a combined installed capacity of 178,8 MWp at peak Publicly disclosed ESRS for this past investment is available at: https://disclosures.ifc.org/project-detail/ESRS/39800/dcm-epsa-green-bond. 

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Celsia Colombia S.A. Client Energy

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.


You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries

If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.


The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org

Celsia Colombia
Carlos Mario Isaza
Corporate Finance Leader
+ 574 32600 Ext. 14647
Cra 43A # 1A Sur – 143 Piso 5 Edificio Santillana Torre Sur, Medellín, Colombia

General IFC Inquiries
IFC Communications
2121 Pennsylvania Avenue, NW
Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384

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