BOGOTA, May 5 (Reuters) - Colombian electricity company Celsia has sold assets in Panama and Costa Rica to EnfraGen, a subsidiary of U.S company Glenfarne Group, LLC, in a deal worth $194 million, the company said on Friday.
The resources will be invested in Clesia's renewable energy sector, the company said.
Celsia forecast that the sale will complete in around three months.
In Panama, the deal sees Celsia divest of its Dos Mares hydroelectric plant, which has a capacity of 119 megawatts, and the Divisa and Celsolar solar farms, which have a combined capacity of 19.7 megawatts.
The company has also sold its Guanacaste wind farm in Costa Rica, which has a capacity of 49.5 megawatts, it said.
Resources will be used to grow in the renewable energy sector, strengthen liquidity and reduce debt among others, the company said in a statement.
"We're redirecting our investment strategy in Panama, Costa Rica and Honduras toward solar energy, mainly for business clients, and in the expansion of our transmission and distribution asset management model, and energy efficiency solutions," Celsia Chief Executive Ricardo Sierra said in the statement.
Celsia - owned by industrial conglomerate Grupo Argos - will add 55 megawatts to its capacity by the end of this year with the installation of a number of solar farms.
It plans to install a capacity of 200 megawatts by 2026.
EnfraGen operates renewable energy and grid stability projects, mostly in Colombia, Chile and Panama.
(Reporting by Nelson Bocanegra Writing by Oliver Griffin; Editing by Susan Fenton)