Company Overview

Interconexión Eléctrica S.A. E.S.P. (ISA), traded in the U.S. OTC market under the ticker IESFY, is a Colombia-based infrastructure company focused on electric power transmission, road concessions, and telecommunications infrastructure. The company operates primarily in the regulated electricity transmission industry, where it develops, owns, and manages high-voltage transmission networks that connect generation assets to distribution systems across Latin America. ISA is widely recognized as one of the region’s largest electric transmission operators and derives a substantial portion of its revenue from long-term regulated transmission assets and concession-based infrastructure operations.

ISA’s principal business lines include energy transmission through ISA Energía, transportation infrastructure through ISA Vías, and telecommunications and digital connectivity through Internexa. Its customer base includes electric utilities, governments, industrial users, telecom operators, and enterprise connectivity clients. The company was founded in 1967 in Colombia as a state-linked electricity transmission enterprise and evolved through regional expansion, privatization reforms in Latin American infrastructure markets, and diversification into transportation and telecom infrastructure. In 2021, Colombian state-controlled oil company Ecopetrol S.A. became ISA’s controlling shareholder through the acquisition of a majority stake previously held by the Colombian government.

Business Operations

ISA organizes its operations around several major infrastructure platforms. The company’s largest revenue contributor is its electricity transmission business, which owns and operates high-voltage transmission lines and substations across multiple countries. Through subsidiaries such as ISA CTEEP in Brazil, ISA InterChile, and operations in Peru, Bolivia, and Central America, the company generates regulated revenue under long-term concession and availability-based frameworks. The transportation infrastructure division develops and operates toll roads and concession assets, while the telecommunications segment, led by Internexa, provides fiber-optic connectivity, data transport, cloud connectivity, and digital infrastructure services across Latin America.

The company maintains both domestic and international operations, with major asset ownership concentrated in Colombia and Brazil. ISA controls strategic infrastructure assets including transmission corridors, substations, fiber-optic networks, and transportation concessions. Its operations involve partnerships with national governments, regulators, and infrastructure concession authorities. Significant subsidiaries include ISA CTEEP, one of Brazil’s largest electricity transmission operators, and Internexa, which operates regional fiber-optic infrastructure connecting multiple South American markets. Revenue generation is primarily tied to regulated infrastructure contracts, concession payments, and telecommunications service agreements.

Strategic Position & Investments

ISA’s strategic direction has centered on expanding regulated infrastructure assets across Latin America while maintaining stable long-term cash flows from concession-based operations. The company has invested heavily in transmission expansion projects, grid modernization, and regional interconnection initiatives intended to support energy reliability and renewable energy integration. Following the acquisition by Ecopetrol S.A., ISA has also become increasingly aligned with broader regional energy transition strategies, including investments associated with transmission capacity for renewable generation and decarbonization-related infrastructure.

Major investments in recent years have included transmission concessions in Brazil, Chile, Peru, and Colombia, along with continued expansion of digital connectivity services through Internexa. ISA has also pursued selective transportation infrastructure development through highway concession projects managed under ISA Vías. The company maintains exposure to emerging infrastructure themes including smart grids, digital infrastructure, renewable energy transmission integration, and cross-border energy connectivity. Public disclosures indicate continued emphasis on operational efficiency, regulated asset growth, and long-duration infrastructure investments supported by stable regulatory frameworks.

Geographic Footprint

ISA operates across multiple Latin American markets with corporate headquarters in Medellín, Colombia. The company maintains a significant operational presence in Colombia, Brazil, Chile, Peru, Bolivia, Panama, and several Central American markets. Brazil represents one of ISA’s largest international markets through ISA CTEEP, while Colombia remains a core operational and strategic center for energy transmission and infrastructure management.

The company’s infrastructure footprint spans thousands of kilometers of high-voltage transmission lines, road concessions, and regional telecommunications networks. Through its subsidiaries and concession structures, ISA maintains influence across key Latin American infrastructure corridors and energy systems. Its international operations position the company as one of the most geographically diversified utility transmission operators in the region, with assets linked to long-term regulatory and concession agreements across multiple jurisdictions.

Leadership & Governance

ISA operates under a corporate governance framework influenced by both public-market standards and majority ownership by Ecopetrol S.A. The company’s leadership strategy has emphasized long-term infrastructure investment, operational reliability, regional expansion, sustainability, and energy transition readiness. Governance practices are shaped by Colombian corporate regulations, public reporting obligations, and oversight associated with its listed securities and strategic national infrastructure role.

Key executives include:

• Jorge Andrés Carrillo Cardoso – Chief Executive Officer
• Carlos Mario Caro Restrepo – Chief Financial Officer
• Carlos Felipe Villa Posada – Vice President, Business Development
• Luis Fernando Rico Pinzón – Former Chief Executive Officer and long-serving infrastructure executive associated with ISA’s regional expansion
• Saúl Kattan Cohen – Chairman associated with governance oversight following the Ecopetrol transaction

Information regarding executive roles and organizational structure is based on recent company filings, investor disclosures, and public corporate governance materials. Some executive assignments and reporting structures may change periodically based on corporate announcements and board decisions.