Grupo Argos released its financial statement for 2020 with a 10% reduction in its operating income, down $3,8 billion (COP 14 billion). Its net income dropped from $ 747 million to $42 million (COP 154,000 million).
In 2020, Grupo Sura generated $ 5.7 billion (COP 20.8 billion) in revenues. A slight decrease of 2.3% compared to 2019. However, net profits decreased by 80.4%, dropping to $93 million (COP336,237 million).
State-owned Banco Agrario has passed new controls to eliminate financing services for productive projects, such as logging, that degenerate the environment in protected areas and natural parks in Colombia.
Colombian consulting services group, D&P, plans to invest some $34,6 million in first two projects, Atlantico Solar I Baranoa and Atlantico Solar II Polonuevo. The projects will install a combined capacity of 29.2 MW of AC power/36.66 MWp of DC. Once in operation, the Atlantico solar duo will generate some 65,857 GWh per year.
Colombia's capital Bogota issued bonds in the local market for $276 billion (COP 956.000 million) which will go toward spending and investments, the city's finance minister and the Colombian stock exchange said in a joint statement. The city issued internal public debt bonds with placements for four, 10, 15, and 25 years.
In 2020, French GreenYellow invested $8 million (COP 45,000 million) in solar energy and energy efficiency projects in Colombia. For 2021, it plans to increase its investment to $43 million (COP 150,000 million), mostly in the retrofit portfolio.
Permanent revenues should increase by approximately 2% of GDP from 2022, advised Fitch. Cyclical rebound and lower temporary spending are expected to lower the deficit from 9.1% of GDP in 2020 to 7.5 % of GDP in 2021 and 4.9% in 2022.
Enel-Emgesa, the second-largest generator and distributor of energy in Colombia, reported operating revenues of more than $ 1,179 billion (COP 4.2 billion) in 2020, 4.6% more than in 2019.
Colombia's peso led gains across Latin American currencies on Wednesday, tracking strength in oil prices, with most other stocks and currencies rising slightly as the dollar retreated on dovish signals from the Federal Reserve. It rose about 0.8%.
Colombia's majority state-owned energy company Ecopetrol could issue up to $2.5 billion in shares to help finance its potential purchase of a majority stake in electricity and infrastructure conglomerate ISA, chief executive Felipe Bayon said on Wednesday.