In recent years, green investments in Colombia have grown rapidly. According to the IMD - World Competitiveness Yearbook, Colombia ranks first in the region in the implementation of ethical practices and sustainable development standards. Colombia was also one of the first countries to include the Sustainable Development Goals (SDGs) in its National Development Plan and is one of the top five countries that report the most sustainable practices to the Global Reporting Initiative (GRI).
Within the Caño Limón oil field in the department of Arauca, a new solar energy project will create 1,068 jobs and contribute to reducing 23,660 tons of CO2 each year, which is equivalent to 76,632 planted trees.
The project, which will come into operation in the second half of 2022 under a 10-year power sale contract (PPA) and valid until 2032, belongs to the company Klarzen Green Technology Inc, which invested from its headquarters in the United States US$ 37.3 million in Colombia for the installation of 66,666 solar panels.