The EPM Group has been awarded the operation of CaribeMar, expanding its electricity service to 1.5 million customers in Colombia's Caribbean regions, enhancing its market share to 35%.

Information on the Target

In the upcoming months, the EPM Group will become the new operator of the electricity service in the departments of Bolívar, Cesar, Córdoba, and Sucre in Colombia. This group has been awarded one of the two companies resulting from the separation of Electricaribe's market. The introduction of CaribeMar will extend EPM Group's electricity services to 1.5 million customers, presenting an opportunity for sustainable growth and contributing to the country’s development.

The EPM Group expresses its gratitude to the Caribbean Region for its trust and welcoming the company to enhance the quality of life and welfare of local residents. Preceding the completion of the asset transfer from the National Government, the EPM Group will take control of its new subsidiary in the Caribbean region.

Industry Overview in Colombia

The electricity distribution and commercialization sector in Colombia is undergoing significant changes, particularly following the restructuring processes affecting Electricaribe, which had been intervened by regulatory authorities due to operational challenge