Grupo Argos, a Colombian holding company, is looking to invest in the energy sector elsewhere in Latin America later this year, its chief executive officer says.

According to Reuters, Jose Alberto Velez confirmed the investments would be made through the Celsia subsidiary, an electricity company that currently operates only in Colombia.

“We are actively looking for possibilities outside of Colombia, that would give Celsia some very obvious advantages in terms of diminishing its risks, country risks and regulatory risks,” Velez added.

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