‘Very stable energy policies’ for investment in Colombia

There are “plenty of opportunities” for British businesses to invest in Colombia’s energy sector due to the nation’s “stable economy”. That’s the view of Felipe Castilla, CFO of Grupo Energia […]

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By Priyanka Shrestha

There are “plenty of opportunities” for British businesses to invest in Colombia’s energy sector due to the nation’s “stable economy”.

That’s the view of Felipe Castilla, CFO of Grupo Energia de Bogota – one of the speakers at the Colombia Inside Out conference in London today – who added the country has “very stable rules” for foreign investment.

He told ELN: “We can show a track record of our results… giving stable cash flows to stakeholders. I think that is the best story for an investor and I believe based on that they can make a decision to invest in Colombia.”

 

Despite guerrilla groups attacking oil infrastructure in the nation and some companies having to temporarily shut pipelines, Mr Castilla said the nation is working on solving the security problems and expects a good outcome following a peace agreement.

The Colombian Government has been in peace talks with the Marxist Revolutionary Armed Forces of Colombia (FARC) for nearly two years in an effort to end a war that has killed thousands of people in the past five decades.

But as with any new project, Mr Castilla added energy companies in Colombia face challenges, which include getting environmental licences and “handling communities”.

On investing in the UK, he said the nation would need to have a stable policy framework to attract investors.