Hydroelectric power is part of the global energy transition policy, but its production in Colombia requires more collaborative solutions to social conflicts. This research aims to analyze watersheds’ governance as a collaborative framework using a cross-case study based on 53 interviews with the hydropower industry stakeholders in Colombia to describe issues, players, and tools in the context of conflict because of water access complications and violent struggle situations. The results exhibited water consumption complications and land use conflicts caused by the economic sectors of energy and agriculture. The identified transition to peace and the energy industry’s interdependency with the territory are favorable issues for a fairer energy transition to renewables. Governance regimes contribute more to planning and joint execution than evaluation in facing two significant challenges: (1) assessing the impact of the hydropower industry and (2) reducing the asymmetry between players. The research contributes to the energy transition policy with a comprehensive governance framework to better understand the interdependence between the hydropower industry and watersheds in conflict contexts. © The Author(s) 2024.