Isagen

What Isagen does

Isagen (legal name ISAGEN S.A. E.S.P.) is a Colombian publicly listed energy generation and commercialization company headquartered in Medellín, founded in 1997. The company operates 27 generation plants across Colombia with a total Net Effective Capacity of 3,140 MW, making it the country's third-largest power generator by installed capacity. All of Isagen's generation is renewable, sourced from hydroelectric, wind, and solar facilities, and in 2025 its output met approximately 20.5% of Colombia's national electricity demand. The company has over 40 years of operating experience in clean energy production and construction of generation projects.

Isagen's core business is vertically integrated generation and commercialization of electricity. It generates power from large-scale assets including the 1,240 MW San Carlos hydroelectric plant, the 819 MW Sogamoso plant, the 396 MW Miel I plant, and additional wind and solar facilities. It then commercializes this energy through direct contracts with non-regulated industrial clients (requiring minimum consumption of 55,000 kWh/month, with contract terms of 1–25 years), participation in the Bolsa de Energía wholesale exchange, and the Conexión-e mobile platform for contract management with industrial customers. Regional commercial offices in Bogotá, Barranquilla, and Cali supplement the Medellín headquarters. The company also offers corporate ESG/sustainability services around its 100% renewable portfolio.

The business model is capital-intensive and asset-driven, monetizing long-term contracted energy sales to large industrial customers and wholesale market trading. Isagen holds an AAA national credit rating from Fitch Colombia, BBB-/BB+ international ratings, and an 'Excellent' rating from Sustainable Fitch for its Sustainable Financing Framework. Ownership is dominated by Brookfield Renewable Partners at ~38% (following an October 2025 commitment of up to $1 billion) and Qatar Investment Authority at ~15% (after a $535 million investment in October 2025), with the remainder publicly traded on the Colombia Stock Exchange. Isagen is currently executing a strategic diversification away from its hydroelectric base, jointly developing up to 1,000 MW of solar capacity with Atlas Renewable Energy, including the commissioned 201 MW Shangri-La park and the 128.8 MWdc El Campano project targeted for 2027.

Name

Isagen

Legal name

ISAGEN S.A. E.S.P.

Website

https://isagen.com.co

Company type

Public

Founded year

1980

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Isagen is a Colombian publicly listed renewable energy generator and commercializer operating 27 hydroelectric, wind, and solar plants totaling 3,140 MW, supplying about 20.5% of national electricity demand to non-regulated industrial clients and the wholesale exchange.

Ownership category

akta.pro rank

Headquarters

HQ city

Medellín

HQ country

Colombia

HQ region

Latin America

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Operations, Personnel, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Energy Generation and Commercialization: ISAGEN generates electricity from its 27 renewable plants (hydroelectric, wind, solar) totaling 3,140 MW and commercializes it to non-regulated clients and wholesale buyers through direct contracts and the Bolsa de Energía exchange.
2. Renewable Energy Development Partnership Revenue: Revenue derived from partnerships in renewable energy projects such as the El Campano Solar Park (128.8 MWdc) and the 1,000 MW solar capacity development initiative with Atlas Renewable Energy.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Core offering

Isagen generates electricity exclusively from renewable sources (hydroelectric, wind, and solar) across 27 generation plants in Colombia with a total Net Effective Capacity of 3,140 MW, and commercializes that energy to non-regulated industrial clients and wholesale market participants through direct contracts and the Bolsa de Energía exchange. The company supplies 20.5% of Colombia's national energy demand and provides complementary commercial services including 24/7 emergency support, energy consumption reporting, and energy management advisory programs.

Product overview

Isagen is a Colombian energy generation and commercialization company operating as a single integrated business model. The company operates 27 generation plants with 3,140 MW of Net Effective Capacity across hydroelectric, wind, and solar sources. Its core products include energy generation (hydroelectric, wind, and solar plants), energy commercialization and trading services, and corporate sustainability offerings. The product portfolio is unified under the company's generation and commercialization operations, with the Conexión-e mobile application supporting commercial contract management for industrial clients.

Differentiator

Problem solved

Functional benefit

Brands

• Conexión-e: Specialized mobile application platform for the management of energy supply contracts with industrial energy clients.

Products and services

• Energy Generation (Generación de Energía)
• Energy Commercialization (Comercialización de Energía)

Quantifiable outcome

• Supplies 20.5% of Colombia's national energy demand
• +2 more outcomes

Named customers1 record

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

One partnership is on record.

• Atlas Renewable EnergycoreStrategic or Co-development Partner · 19 November 2025Strategic partnership to develop up to 1,000 MW of solar PV capacity in Colombia. Under this partnership, Atlas Renewable Energy and ISAGEN developed the 201 MW Shangri-La solar park in Ibagué (commissioned November 2025) and are jointly developing the 128.8 MWdc El Campano Solar Park in Córdoba, scheduled for commercial operations by Q3 2027. The partnership is central to ISAGEN's renewable energy expansion strategy.

Scale indicators8 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Celsia: Celsia is a Colombian multi-technology power generator and commercializer operating hydro, wind, solar, and thermal plants in Colombia and across Central America. It directly competes with ISAGEN in both wholesale generation on the Bolsa de Energ\u00eda and direct supply to non-regulated industrial clients, with overlapping geographic footprint and customer base.
• EPM (Empresas Públicas de Medellín): EPM is a Colombian multi-utility with significant in-house power generation capacity (largely hydroelectric) and energy distribution, headquartered in Medellín. It is one of the largest Colombian power sector players and competes with ISAGEN on generation capacity, market share, and large industrial supply contracts.
• Enel Colombia: Enel Colombia (subsidiary of Enel S.p.A.) is one of the country's largest power generators via its hydroelectric fleet (Emgesa) and is also a major commercializer. It competes head-to-head with ISAGEN in Colombian renewable generation, the wholesale energy market, and direct industrial supply.
• AES Colombia: AES Colombia is the local subsidiary of AES Corporation and operates generation assets in Colombia, including the Chivor hydroelectric plant. It competes with ISAGEN in the Colombian renewable generation market and wholesale/retail energy supply.
• Brookfield Renewable Partners: Brookfield Renewable Partners is ISAGEN's majority owner and one of the world's largest publicly traded renewable power platforms, operating hydro, wind, solar, and storage across the Americas, Europe, and Asia. Directly comparable as a diversified renewable generator and provides a global benchmark for valuing ISAGEN's renewable portfolio.

Broad incumbents

• Engie Colombia: Engie Colombia is part of global utility Engie S.A., offering renewable generation and energy solutions across Latin America. While broader in scope and global scale, it overlaps with ISAGEN in Colombian renewable generation, commercialization, and industrial supply markets.
• Iberdrola Colombia: Iberdrola, through its global renewables business, has been expanding in Colombia via acquisitions and greenfield projects. It competes with ISAGEN as a large international renewable operator entering the Colombian market with similar hydro/solar technology focus.
• Enel Green Power: Enel Green Power is the global renewables arm of Enel S.p.A., operating large-scale hydro, wind, and solar plants worldwide, including assets via Enel Colombia. It is comparable to ISAGEN as a diversified renewable generator with similar technology mix and Colombian presence.

Emerging players

• Atlas Renewable Energy: Atlas Renewable Energy is a Latin America-focused solar developer with which ISAGEN has a strategic partnership to develop up to 1,000 MW of solar PV in Colombia (Shangri-La, El Campano). Comparable as a utility-scale solar developer operating in the same Colombian market and customer segment.

Regional players

• Statkraft: Statkraft is the Norwegian state-owned renewable energy company and a leading European hydropower generator with growing Latin American operations. Comparable to ISAGEN as a large-scale, hydropower-heavy renewable operator with international ambitions and similar technology focus.

Market position

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/isagen
• Facebookfacebook.com/IsagenEnergiaProductiva
• LinkedInlinkedin.com/company/isagen-sa

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Funding overview

Funding rounds4 records

Investors6 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Isagen