Smart Wires is excited to announce the official incorporation of its new Colombian subsidiary, with legal domicile in Medellin, Colombia. The office serves as the Smart Wires operational hub for the Latin America region, further enabling the company to help accelerate the region's energy transition.
Smart Wires successfully incorporated the new operational subsidiary before the Chamber of Commerce of Colombia. Nearly two dozen Smart Wires employees based in Medellin recently held a ribbon-cutting ceremony to mark the opening of the office.
Medellin was chosen as the ideal location for Smart Wires, a global power technology company, to establish its Latin America base. The second largest city in Colombia, Medellin is a source of exceptional talent in the electricity and technology sectors. Renewable energy accounts for nearly 70 percent of Colombia's electricity generation (Statista (https://www.statista.com/statistics/1262918/colombia-renewables-share-electricity-mix/)). Smart Wires enables the use of renewable energy, and helps affordable energy reach consumers, with technology that controls the flow of power on congested grids.
"We are excited to be setting up the Medellin office and planting roots in the region. Our skilled, dedicated team members are devoted to developing, learning and growing with our customers and applying this knowledge beyond Colombia," said Smart Wires CEO Peter Wells. "Colombia's leading utilities are embracing grid enhancing technologies to bring clean, renewable energy to consumers, and we are committed to working and growing alongside them."
The office opening comes amidst a flurry of activity in Colombia. Smart Wires has two projects with ISA Transelca, with plans to install its SmartValve™ technology in the Guajira-Cesar-Magdalena region later this year. Another grid expansion project in the Atlantico region is expected to unlock an additional 300 MW of renewable energy in 2024. Smart Wires installed an initial pilot project with Empresas Públicas de Medellín (EPM) in 2021 to gain experience with the technology, and now EPM plans to install more SmartValve devices this year. A project delivered in early 2022 with Grupo Energía Bogotá (GEB) unlocked an additional 250 MW of network capacity on the existing grid.
Smart Wires' presence in Colombia has grown alongside the country's investment in renewable energy and technology to optimize the existing network. The new office space will allow Smart Wires employees to work together in a collaborative setting, while allowing the company to host events with clients and industry stakeholders.
"In 2020, we were just three remote employees based in Colombia. Now, there are 20 employees who work side by side at our new Medellin office, with disciplines ranging from commercial to customer solutions to analytics," explained Smart Wires Customer Solution Manager Mario Patino, who leads the Medellin office. "Having a space for our team members to collaborate, welcome project partners and work productively further enhances our commitment to the region and will help us achieve our goals."