Grupo Energia de Bogota consolidates its strategy in Latin America
26 September 2016
- Grupo Energia de Bogota (GEB) reconfigures itself in three main Strategic Business Units: Urban Energy Solutions, Interconnectivity for Market Development and Low-Emission Generation.
- GEB is the only Corporate Group that is present throughout the entire energy chain for electricity and natural gas in Colombia and other markets of Latin America.
- The consolidated annual revenue of the Group is 3.4 trillion Colombian pesos (Dec 2015).
Bogota, D.C., September 26, 2016, The Board of Directors of Empresa de Energia de Bogotá S.A. ESP (EEB), in its session No.  on September 26, 2016 has adopted the company's new corporate strategy, with the purpose of consolidating itself as one of the leading corporate groups in the region's energy chain, and one of the few that combines power energy and natural gas in a coordinated manner.
At a competitive level, the Grupo de Energia de Bogota will focus on markets regulated by the main lines of consumption, utilizing three business units: Urban Energy Solutions, Interconnectivity for Market Development and Low-Emission Generation.
Urban Energy Solutions will focus on developing energy infrastructure to meet the demand of large metropolitan areas (presently Bogota and Lima). Interconnectivity for Market Development will be the business unit responsible for interconnecting energy sources with consumption centers and large users, and will be mandated to consolidate assets it has today for the transmission of electric energy, as well as contribute to the consolidation process of Colombia's main gas transporter, TGI. Lastly, Low-Emission Generation will seek new opportunities in renewable and low-emission energy, leading the transformation of the energy matrix for the development of smart cities.
This strategy seeks to comply with the highest standards of corporate governance being an issuer of securities, allowing its shareholders to count on a modern corporate group, focused on actively contributing to the agenda of the growth of 2 its businesses. The purpose is to continue generating value for its shareholders and improve the quality of life of the population.
In furtherance of the above, the board has authorized the managment, led by CEO Astrid Alvarez Hernandez, to take any necessary action for the implementation of the strategy.
In accordance with the approved strategy, the Board of Directors has decided to authorize the disposal of the direct stake interest that it holds in Interconexión Eléctrica S.A. E.S.P.–ISA- (1.67%), Banco Popular S.A. (0.11%), Grupo Nutresa S.A. (0.0001%) and the stake it holds in Promigas S.A. ESP through EEB Gas S.A.S. (15.64%).
About Grupo de Energia de Bogota
The Grupo Energia de Bogota is a multinational leader in the energy and gas sector, with its main headquarters in Bogota. As a Corporate Group, it generates value for its shareholders and stakeholders through the sustainable and profitable management of its business, which contemplates shareholding in companies of the energy chain from the generation, transmission, distribution and commercialization of electricity, as well as the transport and distribution of natural gas.
The Group contributes to the development of the countries where it operates, and leads projects that make an impact on the productivity and competitiveness of territories to support the growing demand of electricity and natural gas in an efficient and responsible manner.
Luis Miguel Gómez Henao
External Communications Advisor