Finnvera guarantees Wärtsilä's deliveries to Colombia

Signing date of the Finnvera Guarantee Agreement: 20 February 2026 
Name of the Guarantee Holder: Banco Santander, S.A., Spain
Name of the Exporter: Wärtsilä Finland Oy, Finland
Name of the Lender: Banco Santander, S.A., Spain
Name of the Buyer and Borrower: Promotora de Energia Electrica de Cartagena S.A.S. E.S.P., Colombia
Name of the Guarantor: InterAmerican Energy Corporation
Project/Export transaction/Goods:  Equipment delivery of four 18V50SG gas engines and related auxiliaries for the Project
Country of Export transaction/project: Colombia
Credit amount: USD 44.8 million 
Credit period: 9 years
Percentage of cover: 95% 
ES risk classification: B (Finnvera’s ES risk classification) 
International standards applied in benchmarking: Relevant IFC Performance Standards and Environmental, Health, and Safety (EHS) Guidelines
Contact point: [email protected] 
Environmental and social impact information: According to Finnvera’s ES risk classification and the OECD Common Approaches, the transaction is identified as a risk category B project. The project modifies an existing power plant by decommissioning one gas turbine and installing four new Wärtsilä gas engines, increasing capacity by about 20%. The most significant risks of the project are related to greenhouse gas emissions from the use of fossil fuels and their climate impacts. The project falls under the exceptions of Finnvera’s oil and gas policy because it replaces higher-emission energy production in the energy grid and does not produce baseload power but operates as a peaking or balancing plant.
Date of publication: 9 March 2026