Good morning. My name is Mateo Ochoa, a member of the investor relations team of ISA. We would like to thank you for joining us in this earnings call of the fourth quarter of 2024 of ISA and its companies. During the presentation, please send your questions through the window that you can see on the right-hand side of your screens. Please provide your full name and the company that you belong to, and at the very end of the event, we will be answering your questions. Next slide, please. Today, we are joined with Jorge Carrillo, CEO of ISA, and Jaime Falquez, CFO, who will give us the results of ISA.
Patricia Castaño, VP of Corporate Strategy, Carolina Sánchez, VP of Energy Transmission, Sebastián Castañeda, VP of Growth and Business Development and in charge of road concessions, and Alfredo Palacios, Director of Energy Solutions Business, who will give us a hand in the Q&A session. Today's agenda begins with the highlights of the fourth quarter explained by Jorge Carrillo, followed by Jaime Falquez, who will provide the quarterly financial results and those of the year. Lastly, we will go back with Jorge for closing remarks and end with a Q&A session. Next slide, please, and let's give the floor to Jorge Carrillo.
Mateo, thank you. Good morning, and thank you for joining us today. Let's move on, please, to the next slide. In this first slide, we are going to see the best of ISA in 2024. It's not really looking at the quarter alone, but it's looking at the entire year. We are going to look at the slide from the top left towards right. First, we reached a major milestone, and we have almost 50,000 km of transmission lines operated by ISA. Just to give you a reference of the distance, it's equivalent to 1.25 turns around the planet, and this turns us into a major player in Latin America and consolidates us as a very important supplier in the region. We also won new projects in energy and roads. We are close to $859 million. It's very important for capturing opportunities.
Let me give you some details about these new projects. When it comes to renewable energy connections, we are talking about Puerto del Sur, Portón del Sol, Valledupar 1 , Valledupar 2, Valledupar 3, and Atlántico Photovoltaic. Why do I mention these projects? Because they are part of the energy transition route of the country, and they are really enabler of decarbonizing the energy matrix, and it shows ISA's vocation to enable these types of solutions. Likewise, we put into commission projects with an investment of $772 million. This includes all of the projects that creates cash flow. So beyond going along with the promise that we give when we win an award or a project, the idea is to create earnings from this point on, and it's a very relevant figure, even historical for ISA.
In telecommunications, which is something very important in our portfolio, we advanced with Connectivity to Change Lives project. It's led by the Ministry of Information and Communications Technologies to take optical fiber to municipalities that never has had it. We're reaching 38 municipalities and about 140,000 homes, in which the government and the Ministry have given us a feedback of good satisfaction rates in our performance in this project. We also reached 1,057 km of roads in operation. This is a relevant figure. It turns us into a major player in the region. To look at this, about 126 million vehicles moved through these roads safely. We entered a new country, in this case, Panama, with the Panamericana Este project, and we're operating and maintaining about 150 km to complete the 1,057 km that I mentioned before.
Also, we were awarded the first bid of the Transmission Mission plan in Colombia. We're used to going with expansion plans of the [UPME], but this is another type of plan. This is of those that say, look, the renewable plans are going faster than the main plan. There's an invitation made. ISA puts its capabilities. It provides a good competitive project. For instance, in Magangué, we will create a hub of renewable energies in the region of the coast of Colombia. Likewise, ICONTEC ratified the certification of carbon neutral. Beyond the certification, it also expanded our spectrum. We have the certification for all of our businesses and geographies for a total of 12 companies of ISA. We attended the COP 16. Remember, this is the most important global event on biodiversity. It was held in Cali. What can we say about our attendance?
First, we were a reference in terms of participation. We participated in more than 50 academic events. We had the most participation as a company. We were the only brand in the blue zone, which is exclusive for NGOs and governments. Of course, we became, with this, a reference of our statements and our actions. There, we announced our pioneer project with the first credits of biodiversity, talking about our contribution to nature. We also launched our program called INNDIGO, which we funded with COP 150 million to promote an ecosystem of innovation to invest on startups that are close to our investment strategies. Moving on to financial topics. We paid dividends for a total of COP 1.2 trillion with a dividend yield of 7.2%, overcoming the average of the past five years, which was close to 5%.
As far as our financial performance, in EBITDA, we grew COP 9.7 trillion, up 7%, and in net profit, we reached a growth of 14% to COP 2.8 trillion, and a profitability of our equity of 16.9%, which is an excellent indicator. It shows the financial soundness of ISA. Something very important is that in December, we completed a stage that had to do with a lot of preparation by ISA, along with the Board of Directors, and we created the ISA 2040 Strategy. In December, it was approved already by the Board of Directors, and it sure gives way to very interesting challenges. Where do we come from? We had a strategy that was designed in 2018, and it was approved that year with a horizon to 2030. The fact that we approved this strategy implied that we have to close at 2030, which I will show you ahead.
This event, remember, is framed within the events of 2024 and the last quarter. I would like to invite you for an event that we will hold to tell you about the strategy that we're very proud of. It's very ambitious, and it will show our guidelines. We will hold it on March 12. As I announced, we have a strategy that we just closed. This is a balance of the main achievements framed within our sustainable value, which is the core. Let's look at this from the left to the right. Firstly, we reached an EBITDA of COP 9.7 trillion, really exceeding our goal of COP 8.6 trillion, which was determined by 2030. I would like to underscore this. Remember, this strategy was in 2018. The goal was COP 8.6 trillion by 2030, and in 2024, we already exceeded that at COP 9.7 trillion.
We have new investments for $9.7 billion. This has to do with energy and road infrastructure. This was between 2019 and 2024. We put into operation investments of $4.1 billion, adding 6,000 km of circuits and 20,000 MW amperes of capacity. We're talking about transformers here. In roads, we have projects for $805 million to expand our network by 257 km of roads, new roads. In corporate effectiveness or effective term, we were first in America when it comes to storage systems. We were the first in Latin America and in Brazil, and this is the first company that uses this technology. We also adopted new technologies such as smart valves to acquire more flexibility and resilience on our network. What's the importance of these technologies that we will see much more ahead? These will allow us to optimize and expand the network's capacity with less investments.
This means that through the same corridors, making very efficient investments, we can increase and make more safe our operation, and avoid investments that are not required, can be prioritized for other topics. With this, we are reaching our wish that everything should be well paid, but it cannot be turned into an efficiency transfer to users. Also, we have a corporate venture underway. It's called INNDIGO. It's underway. We are focusing on, and it's in operation, as I told you a while ago. When it comes to telecommunications, we met everything that we determined for this business, and it was to change or shift our focus, to have target geographies, get out of others, and we've had great results. Moving on to the positive social and environmental impact, which you can see on the bottom of the screen. We protected 480,000 hectares through Conexión Jaguar.
This protection has the potential to reduce 9 million tons of CO2 equivalent, and this is very relevant, and it corresponds to our vocation, and that you've recognized in different settings and during a long time now. In addition, we reduced by 28% the greenhouse gas emissions, Scope 1 and 2, and this also exceeds the goal that we set out by 2030, and something very relevant, to understand why ISA can have the results it has in the territories, is that social investment had a consolidated return, like the SROI, of 3.57 x. We do add value in territories, and that gives us a better receptivity when we arrive to a jury with projects, and it's imperative in our management. Next slide please. Here you can see how many investments we made in 2024 totaling to COP 4.8 trillion.
If we look at the bars on the left side, here you can see execution by quarter. As we announced before, we have a backlog challenging. What do you see here in the graphs? We see adaptations of ISA to these challenges. In the first quarters, we had the increased and stable capacity, and we leaped in the last quarter that we hope to maintain and consolidate during 2025. We have 15 projects in operation. If we look at this by country, in Colombia, the CapEx was 23% of our investments, including 15 Interconexión projects and bids awarded by UPME that are still under construction. Also, in the last quarter of the year, we have the commissioning of the expansion of substation Cerrom atoso and Copey. Brazil represented 50% of the execution investments, considering 174 reinforcements to the transmission line and six projects bidded.
During the fourth quarter, we have in operation 30 reinforcements in the Minuano Project, which is emblematic, which began the commercial operation and began its remuneration. With this project, ISA ENERGIA BRASIL. Remember, we already told you we were not going to use TEPI anymore, but instead, for some months now, we call it ISA ENERGIA BRASIL, improved the energy flow and the quality of the transmission service in the region of Serra Gaúcha, Rio Grande do Sul. In Chile, you can see it represented 18% of the investments during the fourth quarter. 18% of the investments, yeah. During the fourth quarter, energy transmission advanced by building three expansions of the transmission line. In roads, we made advancements of the complementary of works of Ruta del Maipo, Ruta de la Araucanía, and Ruta de los Ríos. Ruta Orbital Sur Santiago advanced in development of engineering studies and environmental proceedings.
Peru represented 8% of the investments of ISA, with developments in the construction of transmission lines awarded in previous periods. If we look at CapEx by business, we see that transmission represents 86% of this CapEx, roads 12%, and telecommunications 2%. Next slide. Here we'll talk about the projects that we earned and put into operation in 2024. On the left-hand side, for each business, you can see details of what we were awarded. We're talking about $859 million in energy. In power in Colombia, we have three connection contracts, two expansions and four bids. In Peru, two expansions that are relevant. In Brazil, 135 improvements and reinforcements. When it comes to roads, Panama, we were awarded the bid. We were told that we were awarded the bid. This happened in 2023.
The novelty for 2024 is that this requires a ratification process from control entities, which took place in 2024. Now we've been given the asset, the operation of it, and we began the construction and rehabilitation. Remember, this road is the one that connects the limit, the Darién of Colombia with Panama. We're talking about 246 km. In Chile, we awarded the Ruta Orbital Sur. It's a big project, not an extension, but it's an urban project relevant, very highly visible, and it's a good bet that we have in Chile. As I announced, in telecommunications, we have Connectivity to Change Lives project, which is financed by the government mostly. On the right-hand side, those that started operations, we're talking about an investment of $772 million. In Brazil, we're talking about 86 reinforcements and improvements, and also a second phase of the Minuano Project.
In Colombia, we ended four connection projects, five renewals, and two smart valves projects. In Peru, we have the Puerto Chancay connection. I think you all monitor the relevance of this new port and how it changed the logistic and transportation for Latin America, and we were major players here, and one expansion. In Chile, we have two expansions and reinforcements of the network, and we ended a very important section of Ruta del Loa, which was what we did successfully in this region. Next please. Now let's talk about the backlog. This is the investments planned from 2025 to 2030. The figure is historical. It's impressive. It means a lot of challenges. We're talking about COP 26.1 trillion. By business, how do we see this? 83% is for energy power, 14% for roads, and 3% for telco.
By geographies, Colombia represents 15%, Brazil, 52%, Peru, 11%, Chile, 18%, and Panama, 4%. Here we have to warn you that we're talking about projects that were awarded, not expectations. We're not talking about plans. No, these are projects that were awarded. How will they be executed? COP 7 billion in 2025, something similar in 2026, COP 4.8 billion in 2027, COP 3.3 billion in 2028, and COP 3.9 billion in 2029, 2030. Of course, these bars reflect as we didn't win or we were not awarded anything else. This would be the flow of CapEx. This to give you numbers in infrastructure. Projects under construction would be 38, which would add 5,658 km of lines and almost 300 km of roads. With this slide, now let's give the floor to Jaime Falquez, who will talk about the financial performance.
Remember, he was the VP of Corporate Finance, acting, and since January 20th, he is now the CFO. He's worked with us more than 22 years, making major contributions. Once again, welcome, Jaime.
Thank you, Jorge. Really, for me, it's an honor to be again with you presenting the results of ISA of 2024. Next slide, please. Before we begin talking about the figures, I'd like to provide a brief summary of the highlights that contribute to the financial performance of 2024. Brazil made a contribution, recognized the periodic tariff review, and it had a positive impact on the results in terms of EBITDA. It contributed COP 872 billion, and in net profit, about COP 200 billion. In the year, we also issued public debt bonds.
The backlog that Jorge mentioned before. Especially in the capital market, both in Colombia and in Brazil, which reinforces the commitment and the trust of the market in the company's management. Likewise, and along with the strategy that we have been implementing with InterNexa, we made the disinvestment of the subsidiaries in Brazil, Argentina, and Chile, focusing only in Colombia and Peru for the business of telecommunications. It's also important to highlight that we recorded an accounts receivable provision from Air-e for COP 153 billion after the intervention of the Superintendency of Public Utilities . In addition, it's important to incorporate or add that we keep working in our strategy of liquidity, and to finance the commitments of investments that we have in the backlog. We've managed authorizations to execute this financing that will require less.
At the end of the last year, we received an approval from the Ministry of Treasury for a bank loan of up to COP 600 billion to make the advances this year. Lastly, it's worth underscoring that the two rating firms, Fitch Ratings and Moody's, ratified the credit risk rating of ISA, both with an investment grade. Fitch gave us BBB and Moody's a Baa2, both with a stable outlook. This covers the corporate rating and the international bonds program. Next slide, please. On this slide, we'd like to highlight the sound financial results of 2024. How can you see them? On the top of the slide, you can see the performance of the consolidated EBITDA for the fourth quarter and the results of 2024. At the bottom, you can see the same results, but when it comes to net income.
With regards to the consolidated EBITDA, the fourth quarter ended at COP 2.2 trillion, up 7% compared to the fourth quarter of 2024. This is mainly backed by the commissioning of new projects and the positive effect of the contractual scalers or indexators, which we use to update our income, and the higher results of the companies we co-control. If we look at the performance of the full year, we can see a similar trend, an increase of 7% compared to the year before. In which, in addition to the comments we made about the quarter, like the commissioning of projects and the indexators, it's important also to highlight the effect of the periodic tariff review made in the Brazilian business, and some adjustments made to estimate the provision of major overhauls in Peru, compensated in part because in 2024, we don't have InterNexa Brazil, Argentina, and Chile.
On the other hand, we also have the lower yield of the road segment, which is normal in these types of concessions as they are about to be matured, like Ruta de los Ríos and Ruta de la Araucanía. The distribution of EBITDA per segments. Here you can see 85% is contributed by energy power transmission, 12% road concessions, and 3% telecommunications. As far as net income, in the third quarter, it rose to COP 575 billion, up 33% compared to the fourth quarter of the year before. In terms of the net profit consolidated at the end of the year, total year, COP 2.8 billion, 14% higher than the year before. This is basically because of the effect of the improved EBITDA, as well as the provision of Air-e in 2024.
The distribution of the net profit per country was as follows: 40% Brazil, 34% Colombia, 11% Chile, and 15% Peru. Next slide, please. I'd like to also highlight the sound levels of debt to continue leveraging the growth of the company. At the end of 2024, we have a balance of the debt of COP 34.5 trillion, 11% higher than at the end of 2023, mainly because of the movements of the disbursements made to finance the backlog of projects that we're executing, and COP 1.4 trillion because of the conversion effect in which we have the figures of the different geographies, and they're expressed all in Colombian pesos.
In 2024 also, we made disbursements for the debt of COP 4.4 trillion, and we also financed different sources and geographies in which we can clearly see how the market backs us, especially the capitals and investments market, for the growth of the organization. We can also highlight that by the end of 2024, we have a medium live consolidated of the debt of 9.3 years, and it shows really the long-term profile of the concessions of ISA, and we have an indicator of debt EBITDA, which is 3.8 x, which is consistent with the investment degree risk rating of the company. Next slide, please. To end this financial chapter, we would like to share with you the proposal to distribute dividends that the board of ISA will give to the general shareholders meeting.
Here, what we are presenting really is to share with our shareholders excellent results of the year, keeping a healthy policy to reinvest in our strategy and growth. We propose to distribute 50% of the net profit of 2024, meaning COP 1.4 trillion, which is equivalent to a dividend per share of COP 1,265. This shows the growth of 14% compared to the dividend paid in 2024, and a dividend yield estimated of 7.6%, exceeding that of the year before and of the last six years. With this information, we end this chapter, this financial chapter. Now let's give the floor again to Jorge Carrillo for his closing remarks.
Thank you, Jaime. Next, please. Firstly, the results of 2024 are satisfactory for us and our stakeholders. Everybody is aware that 2024 was challenging with high uncertainties, and these results reflect the capabilities of ISA and how we materialize to many offers, projects, and all the fronts providing good results. Of course, the backlog that we have shown you force us to continue to be very efficient in our investments plan to create income and future returns assured, and allows us to have a future that is very promising. When we will have the meeting in March, we can talk about that strategy. We can do a lot more, enter new businesses, and probably new geographies. This backlog has to do with. We are certain that this figure will increase.
As you know, this industry and sector, many of the investments in energy transition, from this year till 2023, will be focused there, and surely, ISA wants to be a major player in these investments. These challenges have been made without hurting our financials. We have a strong balance sheet to leverage growth with a gross debt over EBITDA of 3.8 x, which we have taken care of. It is controlled, it is done with responsibility, and it is managed efficiently. Our board of directors will recommend a dividend per share of COP 1,265. This is up 14% compared to what we paid in 2024, and of course, has to do with the policy of dividends of our company and reflects our commitment to generate shareholder value. Lastly, we updated the strategy with a ISA 2040 horizon. Remember, in March, we will be holding an event talking about this.
It is an ambitious plan, strategy, and it gathers not only the capabilities of ISA, but what our geographies, the public policies require from players like us. It will be a pleasure to be with you at that meeting. I would like to give you also two more messages. One, again, I would like to thank you for joining us in these types of events. We feel pride of our results of 2024, and we hope they give you peace of mind and more trust in ISA. Secondly, I would like to talk about what happened yesterday. Although it is not part of the agenda we have for today, it is evident that you and many stakeholders are interested in getting to know firsthand what happened.
I will read to you a statement that will be read to the media in several minutes, and I will give you an explanation, a technical explanation of what happened. The statement says, as publicly was known, yesterday, we had a technical problem in Chile. There was a general shutdown of the power of the country. The government of Chile has focused the communications of this emergency, ISA INTERCHILE is in constant communication with the main players here. This morning, I spoke with the president of Chile, and I spoke with Carlos Durán, and I told them that we can provide him our solidarity in Chile, and that ISA INTERCHILE will work hard to help to investigate the causes of this incident and to back the National Electric Coordinator for whatever he may need. Right now, we have no final information of the causes of what happened in Chile.
But since the service has been reestablished, our technicians are focused on collaborating with the Chilean authorities. Thank you. Closing quote. I would like to highlight two things. We respect the authorities of Chile. We let them have the voice. They can be the spokespersons of what is happening in these investigations. But I would like to tell you, in the most clear way, overall, of course, warning you that we are still making internal investigations. ISA INTERCHILE and ISA headquarters is verifying information to try to establish the root cause of this problem. And there is another investigation made by the authorities of Chile directly regarding the performance of ISA INTERCHILE and other performers of the market.
This is done because even if there were not any questions from you, I planned to talk about this, but I would like to tell you that with this information, it is really the only thing I can cover about what happened with Chile. Whatever you can ask for the Q&A session, please leave anything related to what happened yesterday in Chile and wait for some time because we have to wait for more time to have more information. Remember, Chile is a country very long. It is very different to how Colombia and other countries are. And with this setting, it is not as rich in water as Colombia is. Therefore, it has advanced quicker in non-conventional renewable energy systems.
And since they are mainly photovoltaic, they are in the north of Chile, in the desert area, which is where the mining area is, and that is where the power is produced. So where is it used? Most of it in the middle of the country, and it is basically in the metropolitan area of Santiago. The line that connects most of these wind parks is owned by ISA INTERCHILE. It's a two-circuit line, so it can transport 500 kW, which has a high capability to be carried, and it has a setting that's round. Because an event that we're investigating, and we have not concluded yet, we activated the protections of a part of the circuit. What's the purpose of the protections? It's to protect the infrastructure, so when facing any anomaly, there isn't a major damage or something difficult to recover.
Just imagine, for instance, a tree falling or a short circuit. If there was a continuity, it could hurt the entire line and other systems. These protections safeguard the network. But lastly, there was an interruption of the service because of the activation of the protectors. This leads to two immediate actions, one internal and the other of the system. The internal is that before reestablishing the service, because when there's a shutdown. Nothing happens. Here, before reestablishing the service, you have to clearly know if the infrastructure is capable of carrying the power. How long did ISA INTERCHILE take for this? 44 minutes. The event took place at 3:16 P.M., and the availability of the asset was given at 4:00 P.M. This was the route, internally, of what happened in ISA INTERCHILE .
In turn, most of the systems interconnected have to activate their supports and their backups, and these correspond to making the power arrive to the consumption areas without using this asset because of the redundancies that are designed for this. Here, the reaction was not as quick as expected. Usually, this takes mostly an hour, but here, the partial reestablishment took place in almost six hours later for half of the population, and the other half had to wait until very early this morning. Of course, there was a major nationwide shutdown, which led to measures taken by the government of Chile, like people cannot go out for security purposes, contingency plans to protect the basic services like healthcare and water, and the recovery of the system per se.
If you heard the statements made by the national coordinator of Chile, the Minister of Interior, and the President himself, they talked about something that should not have happened, because countries should be prepared to face these types of situations. They mentioned us as well as others that are not identified in this situation. As I said, this is under investigation, and when we have the results, of course, we will share them with you. We are in touch with the government and all of the authorities to provide our information in the most transparent way possible. We had a reaction in the times that we set forth. Our part was quickly recovered. Unfortunately, the system didn't respond as fast as we did. Right now, let's continue with our Q&A session.
Jorge, thank you for the information you provided. Now let's begin the Q&A session, and let's begin with Juan Pablo Ramirez from Banco Davivienda, who asked, what are the developments of the regulation on the medium and long-term basis for transmission? This is added to a question made by Andres, who asked about regulatory changes in 2025 in the different geographies. Pablo Franco will be answering these questions.
Good morning, Mateo, and thank you. Thank you, Juan Pablo, for your question. What is relevant when it comes to your questions in Colombia on a medium and long-term basis is the periodic tariff review, which has been established by law. So we have three projects that were lastly issued in 2016, and in this project, we have a change of the scheme that we have had since 2009 to a reposition cost depreciated. It has to do with the review of different parameters that are part of the methodology to determine the entrance, and specifically, the CREG also issued resolutions that determine the capital cost, or what we call in Colombia, the WACC.
Which, in any case, would give the final cost once the CREG issues the final methodology for the remuneration of the activity. What have we foreseen in terms of the timetable from the regulator? In its Circular 121 for this year, they foresaw that for the first quarter, that we have the fourth project of the resolution. So we have been keeping discussions with the regulator backed on different parameters, and although in the regulator's agenda, it does not include the issuance of the final resolution, we estimate that by the second quarter of this year, we will have the final resolution, and that way we can apply this in 2027. Keeping in mind that the companies have to issue different resolutions, and this will take place in 2026. Thank you, Juan Pablo, for your question. Next.
Pablo, thank you so much for your answer. Next question. Juan Pablo, also from Banco Davivienda, asks, can the accounts receivable with Air-e be recovered?
Thank you, Juan Pablo, for your question. I am sorry. Before answering this question, I would like to provide a context of the intervention of Air-e made by the Superintendency of Public Utilities. When this was made, there was a sum pending that had to do with what ISA and its companies made. So also as a result of that suspension, the limitation of the supply made by the company, Air-e stopped placing the guarantees in the market, and we are talking about a sum that was owed to ISA and its companies. So this added more to what was pending. So in short, in financial terms, we have a debt pending payment from Air-e of COP 110 billion. And now, with the repossession determined by the Superintendency early this year, we can recover all of this amount in the process.
In addition, ISA has been making direct procedures with different sectors also to meet all of the payments that have to do with the transmission provided in past months. This reaches COP 86 billion. So Juan Pablo, to answer, the expectation of ISA and its companies is to recover all the accounts receivable from Air-e.
Perfect, Carolina. Thank you. Next, Josue Gonzalez asks, how do you expect the debt-EBITDA ratio to develop in 2025, 2024, 2025?
Thank you, Mateo, and thank you, Josue, for your question. Within this investments plan that we are executing, considering the commissioning of the projects in the period 2025, 2030 that we saw through Jorge, we expect to keep debt levels that go hand-in-hand with our investment degree, keeping the financial soundness of the company. So the results will be quite positive.
Thank you, Jaime, for your answer. Next question from Andres. He asks, what risks do you see for the electric power chain in 2025? Carolina, VP of Power Transmission, could you answer the question, please?
Thank you for your question. Truly, through transmission, we are not observing any type of risk to supply power. In addition, we can ratify as incumbents that we have a transmission system that is resilient and flexible. In addition, along with the Unidad de Planeación Minero Energética, we are working to seek to keep enhancing and modernizing the national transmission system and the regional systems as well. There is a plan called Transmission Mission Plan from the UPME, and what they want is to make the system more robust with new projects and to accelerate everything related to energy transition.
We have identified works, complementary works to the expansion plan, and as Jorge mentioned, the idea is to accelerate all these projects and to have robust networks to serve the needs of the system. Priority has been given to La Guajira, Cesar, Magdalena, Córdoba, Sucre, Chocó, and Norte de Santander. Basically, we are reviewing already the expansion plan 2024-2038, in which the companies interested have received a copy, and it really shows the interest of the planning area to ensure all of the power services to avoid and mitigate all the risks in the power supply chain.
Carolina, thank you for your answer. We expect that this covers our Q&A session, and this ends our earnings call of the fourth quarter of ISA. Thank you all for joining us today.