Colombia Announces First RE Auction

Colombian Ministry Of Mines & Energy To Hold First Renewable Energy Auction With 1 GW Capacity In January 2019
11:53 PM (Beijing Time) - 04. August 2018
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All projects awarded in the first renewable energy auction in Colombia to be held in November 2019 will enter a 10-year power purchase agreement to supply a total of 3,443 GWh of clean energy annually. (Photo Credit: Ministry of Mines and Energy, Colombia)

Key Takeaways

  • Colombia will officially hold the first renewable energy auction process in the South American country in January 2019
  • It plans to contract 1 GW of capacity through solar PV, wind and biomass technologies
  • Project completion date will be December 2022
  • The projects are expected to generate 3,443 GWh of clean energy annually

 


Colombia has officially announced the timeline for its first renewable energy auction. It plans to contract 1 GW of installed capacity through the process. In November 2017, Minister of Mines and Energy, Germán Arce Zapata had announced the auction will be held in May 2018, which hasn’t happened. But he had said back then that solar PV, wind and biomass will be eligible technologies for the auction (see Colombia’s First RES Auction In 2018).

The auction process will be carried out in January 2019. Power purchase agreements will be valid for a period of 10 years. Awarded capacities will need to be connected to the grid by December 2022. The ministry expects these projects to generate 3,443 GWh of clean energy annually through these installations.

“This government was, is and will be the government that promoted the energy transition towards a sustainable matrix, adaptable to climate change, and that provides security in the supply, in this way, the country will continue to advance in fulfilling the COP21 commitments. and of the sustainable development objectives, which will guarantee the country’s energy sustainability in the medium and long term,” said Zapata.

In June 2018, Italy’s Enel announced entering the Colombian solar market with a $70 million investment for the 86.2 MW El Paso PV Plant (see Enel Developing 86.2 MW PV Plant In Colombia).

Anu Bhambhani

Anu Bhambhani is the Senior News Editor of TaiyangNews

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