Energy Auction: Colombia is a strong destination for investment in renewable energies

14 December 2021
- Currently, the country has 15 solar farms, 9 large-scale self-generation projects and more than 1,500 small-scale solar photovoltaic self-generation projects, which contribute a net effective capacity of 388 MW. - Under construction in different regions of the country are 1,200 MW of private generation and self-generation initiatives and 1,365 MW of solar and wind energy that achieved allocations in the 2019 auction.

The Colombian Ministry of Mines and Energy delivered a balance of the new renewable energy auction, which was held on October 26th, in which 11 additional generation projects were designated in 9 departments, thus consolidating the country as an attractive destination for investment in renewable energy, thanks to the arrival of 5 new companies as a result of this process.

 

For Flavia Santoro, president of ProColombia: "the energy transition and renewable energies are amongst the main priorities of the National Government with social, environmental and economic components. Following that objective, from ProColombia our strategy is to promote and attract new investments in energy generation and associated services, to strengthen and complement our national energy matrix and ensure reliability of supply. This auction is aimed at this purpose and contributes to our economic reactivation with contributions in technology transfer, competitiveness and employment", she said.

 

The projects must start delivering energy in January 2023, as established in the auction conditions. Nine generating companies, 53 trading companies and 11 generation projects were assigned. These 11 projects have investments of around COP 3.3 trillion.

According to figures from the Ministry of Mines and Energy, with this auction, the installed capacity was multiplied by 100 times with respect to 2018. The contracts, which will have a period of 15 years, closed with a weighted average allocation price of COP 155.8 per kilowatt/hour.

 

"The success of this new auction demonstrates that Colombia's Energy Transition is a reality, consolidating itself as the legacy for the country's present and future in energy matters. The allocation of these 11 projects, equivalent to the consumption of 800 Colombian families, is another example of how the public policies advanced by the National Government have generated an attraction for the massive incorporation of renewable energies from the sun and wind. In addition, this transition will be a key tool to have a more resilient electricity matrix and advance in the fight against climate change", assured the Minister of Mines and Energy, Diego Mesa.

 

The assigned companies were:

- Canadian Solar Energy Colombia

- Celsia Colombia

- EDF

- Empresa Urrá S.A.

- Empresas Públicas de Medellín

- Energreen Power Colombia

- Arrayanes Photovoltaic

- Enersol SAS

- Sol Arpá Colombia SAS

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