Parex Resources and Celsia inaugurate the first large solar energy farm in Casanare

Parex Resources Colombia Ltd. Branch, in partnership with Celsia, an energy company of the Argos Group, inaugurated the first large solar farm in Casanare, located in the Kitaro/Akira field, in the Cabrestero block, in the municipality of Villanueva; a field where Parex has been carrying out exploration and exploitation activities of hydrocarbons for more than ten years.

• Its installed capacity is 3 megawatts (MW) with an estimated annual energy production of 5,900,000 kilowatt-hours (kWh).
• It will avoid emissions of approximately 3,500 tons equivalent of CO2 into the atmosphere in its first year.
• The installation of 7,200 solar panels, 30 inverters, and a power transformation system will integrate solar resources into the energy matrix of the Kitaro/Akira field of Parex.
• Construction began in October 2021.

The solar farm has an installed capacity of 3 MW with an estimated annual energy production of 5,900,000 kWh, equivalent to the energy consumed monthly by 3,000 families in Colombia; avoiding greenhouse gas emissions of approximately 3,500 tons CO2e in the first year. This plant occupies an approximate area of 3 hectares and is composed of 7,200 solar panels, 30 inverters, and a power transformation system that integrates solar resources into the energy matrix of the Kitaro/Akira field.

“Parex is clear about its mission, we are an E&P company that produces oil and gas. However, betting on renewable energies is part of the Company's commitment to mitigate climate change. Today we are inaugurating our first solar plant; without a doubt, we are diversifying our energy matrix and working on the sustainable development of the hydrocarbon industry,” said Daniel Ferreiro, president of Parex Resources.

“With the inauguration of this project, we have reached 21 solar farms installed in the country, which demonstrates this Government's commitment to the Energy Transition, as when we arrived in 2018 there was only one solar project in the national territory. To date, we have managed to multiply Colombia's renewable energy capacity by 25 times and we will close the Government with awarded projects that will multiply that capacity by 100 times,” said the Minister of Mines and Energy, Diego Mesa.

The construction of this solar plant generated more than 50 job opportunities and allowed for the hiring of local goods and services, thus contributing to the economic reactivation of the region.

“At Celsia, we are very proud to continue contributing to the fulfillment of the economic and environmental objectives of companies in the country with photovoltaic systems, which allow them to self-generate their own energy at more competitive prices and do so with a non-conventional renewable source. This is our first farm in Casanare and we are very happy that Parex joins the more than 80 companies in Colombia that are already part of our energy revolution,” stated Ricardo Sierra, leader of Celsia.

Parex continues to join efforts around strategic projects aimed at a more competitive, efficient, and sustainable operation with the environment, in order to meet corporate objectives associated with reducing GHG emissions and ensuring the energy security of the country.