Colombia Gets 1.5 GW Bids For First RE Tender

27 Domestic & International Firms Vying For First Renewable Energy Tender In Colombia; Government Planning To Auction 500 MW Capacity, Receives Bids For 1.5 GW: Reuters
08:37 AM (Beijing Time) - 05. February 2019
colombia

Over the next 4 years, the Colombian government wants to increase the renewables capacity of the country from 50 MW today to 1.5 GW, according to Reuters. It has now received bids equalling 1.5 GW, as against the original 500 MW target for its first renewable energy tender. Pictured is the National Capitol in Plaza de Bolivar in Bogota, Colombia. (Photo Credit: Kinori/www.goodfreephotos.com)

Key Takeaways

  • Colombia has received interest from 27 local and global firms interested in developing renewable energy capacity in the country under its first renewable energy tender, according to Reuters
  • While the government had not disclosed how much capacity it aims for in this tender, Reuters said that 500 MW was the original target, but the Ministry of Mines and Energy has received bids for 1.5 GW in total
  • On February 26, 2019, the final bidding round will be conducted to select companies to develop 22 different solar, wind and biomass projects

The Colombian Minister of Mines and Energy Maria Fernanda Suarez said her government has received bids from 27 domestic and international companies interested in developing renewable energy capacity in the South American country, responding to the nation’s first tender for renewable energy projects, reported Reuters.

The ministry launched the tender in January 2019, offering 1,183,000 MWh of clean energy deployment annually but without specifying the capacity (see Colombia’s RE Auction Launched). Now, according to the Reuters, the government had been aiming for 500 MW of installed capacity from non-conventional energy sources, but it is in receipt of bids totaling 1.5 GW.

Final bidding will take place on February 26, 2019, as announced previously, and companies will be selected to develop 22 different solar, wind and biomass projects. The minister would not name these companies, but sees this interest in the tender as a confirmation of the country having potential for renewables. Selected projects will need to come online by 2021.

Currently, renewable energy accounts for 50 MW of installed generation capacity or 2% of the total energy mix, which the government wants to scale up to 1.5 GW within 4 years. Hydropower is its mainstay for electricity generation as it covers some 70% of total electricity supply, followed by gas and liquid fuel contributing 20% and coal 8%.

Anu Bhambhani

Anu Bhambhani is the Senior News Editor of TaiyangNews

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Anu Bhambhani