Greenwood Energy Closes Financing Facility with Financiera de Desarrollo Nacional to Support TERRɅ INITIɅTIVE Project
Greenwood Energy closed a senior financing facility with Financiera de Desarrollo Nacional (FDN), a leading development bank, for the support of TERRɅ SITE I.
[January 14, 2026] – Greenwood Energy closed a senior financing facility with Financiera de Desarrollo Nacional (FDN), a leading development bank specializing in infrastructure projects, for COP163 billion (~$42.5mm).
The financing facility supports TERRɅ SITE I, the first phase of TERRɅ INITIɅTIVE, a key milestone to advance the construction of GWE’s innovative landmark solar project in partnership with the Arhuaco People in El Copey, Sierra Nevada de Santa Marta. The project includes 160 MWp of solar capacity connected to the National Interconnected System, along with the development of three indigenous villages.
The first phase includes 52 MWp of solar power and the construction of the first TERRɅ village, as well as innovative mechanisms for community benefit, including an environmental fee for each kWh sold, designed for a land acquisition and preservation fund managed by the Arhuaco People themselves. Additionally, the solar assets will be transferred to the community after 25 years of operation. This project is part of Greenwood Energy’s “Reimagining Development” initiative, which involves thoughtful partnerships with indigenous communities and universities.
The project also predicts a reduction of more than 700,000 tons of CO2 over a 25-year horizon per plant. Over the project’s lifetime, the Arhuaco people will be able to preserve 119,000 hectares of new land in the Sierra Nevada de Santa Marta – a land size larger than New York City, Berlin, or Seoul.
Greenwood Energy Joins Arhuaco Leaders for General Audience with Pope Francis in Vatican City 
Greenwood Energy launches TERRɅ INITIɅTIVE, a utility-scale solar project 
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