We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Ecopetrol Expands Renewables Portfolio Through Latest Acquisition
Read MoreHide Full Article
Ecopetrol S.A. (EC - Free Report) , the majority state-owned oil company in Colombia, has announced the acquisition of renewable energy development companies in Colombia from Statkraft. Per the terms of the agreement, Ecopetrol will purchase 10 wind and solar energy project development companies from Statkraft, a major European firm specializing in renewable energy production.
Ecopetrol mentioned that the portfolio of projects under these companies could have a total capacity of up to 1.3 gigawatts (GW). This would be utilized by EC for its domestic energy needs. The sale of these renewable energy development companies also marks Statkraft’s exit from the South American nation. In October 2024, Statkraft mentioned that it would divest certain assets in India, Croatia and the Netherlands. The company intends to maintain its investment focus on a few key global markets.
Statkraft’s portfolio of projects in Colombia was spread across the La Guajira, Sucre, Córdoba, Caldas, and Magdalena departments, of which one is currently operational. Some of the projects are expected to begin operations between 2026 and 2027. However, as of now, several of these projects do not have a specified time frame for commencement of operations.
Earlier this year, EC announced its plan to obtain $2 billion of additional debt to fund inorganic investments in 2025. The company is also eyeing other renewable energy projects in Colombia, such as the Windpeshi project, a 205-megawatt wind project developed by Enel SpA.
EC’s Zacks Rank and Key Picks
EC currently carries a Zacks Rank #5 (Strong Sell).
Diversified Energy Company is an independent oil and natural gas producer in the United States. The company is primarily engaged in the production, transportation, and marketing of natural gas and natural gas liquids. The rising demand for natural gas as a cleaner-burning fuel and an uptick in the commodity’s prices are expected to positively impact the company’s bottom line.
Expand Energy is a leading U.S.-based natural gas producer formed through the merger of Chesapeake Energy Corporation and Southwestern Energy Company. Natural gas is expected to play an increasingly important role in the energy transition journey. Expand Energy is poised to benefit from the rising demand for natural gas as a cleaner-burning fuel. The recent rise in natural gas prices is also anticipated to positively impact EXE’s profitability.
RPC generates strong and stable revenues through a diverse range of oilfield services, including pressure pumping, coiled tubing and rental tools. RPC is strongly committed to returning value to shareholders through consistent dividend payments and share buybacks, making it an attractive choice for investors seeking steady returns.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Ecopetrol Expands Renewables Portfolio Through Latest Acquisition
EC’s Zacks Rank and Key Picks
EC currently carries a Zacks Rank #5 (Strong Sell).
Some better-ranked stocks from the energy sector are Diversified Energy Company plc (DEC - Free Report) , Expand Energy Corporation (EXE - Free Report) and RPC, Inc. (RES - Free Report) , each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Diversified Energy Company is an independent oil and natural gas producer in the United States. The company is primarily engaged in the production, transportation, and marketing of natural gas and natural gas liquids. The rising demand for natural gas as a cleaner-burning fuel and an uptick in the commodity’s prices are expected to positively impact the company’s bottom line.
Expand Energy is a leading U.S.-based natural gas producer formed through the merger of Chesapeake Energy Corporation and Southwestern Energy Company. Natural gas is expected to play an increasingly important role in the energy transition journey. Expand Energy is poised to benefit from the rising demand for natural gas as a cleaner-burning fuel. The recent rise in natural gas prices is also anticipated to positively impact EXE’s profitability.
RPC generates strong and stable revenues through a diverse range of oilfield services, including pressure pumping, coiled tubing and rental tools. RPC is strongly committed to returning value to shareholders through consistent dividend payments and share buybacks, making it an attractive choice for investors seeking steady returns.