Colombia has concluded an auction in which it sold its controlling share in power generating company Isagen for at least $1.95m.

The government owns 57.6 per cent of Isagen’s shares.

The government has recently raised its assessment of the energy generator and distributor of 21.5 per cent from the previously established 5.34 billion pesos.

Isagen is the second largest power generator in Colombia, operating seven plants. It has a total installed capacity of 3 GW.

The product proceeds from the Isagen sale are critical to finance the construction of road infrastructure in the country.