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Colombia Planning 5 GW RE Auction In Q1/2021

With 5 GW renewable energy capacity to be auctioned in the Colombia's 2nd renewable energy auction in Q1/2021, as announced by its President, the Latin American market wants to consolidate the country’s position in the alternative energy space. Pictured are buildings and skyscrapers in Bogota, Colombia. (Photo Credit: Julianza/www.goodfreephotos.com)

Anu Bhambhani

Published:12th Nov, 2020 at 6:34 PM

Colombia will launch a new renewable energy auction in Q1/2021, for 5 GW capacity
Wind and solar energy projects that can become operational by December 2022 will be eligible to participate in the auction
Detailed terms of reference can be expected by the energy ministry over the next few months

The President of Colombia, Iván Duque said his government plans to launch a new renewable energy auction in the 1^st quarter of 2021 and eligible projects need to become operational before December 2022, in a bid to consolidate the country's position in the 'unconventional' energy space.

Speaking during the inauguration of Bayunca 1 Solar Park in Cartagena, Duque said this auction will be open to solar and wind power projects. These are expected to create around 32,000 new jobs in the country and bring in more than $6,000 million in investments, reported local media.

Exact terms of reference for the proposed auction will be announced by the Ministry of Mines and Energy in the near future.

If launched, it will be the country's 2^nd renewable energy auction after awarded in 2 earlier auctions a total of 2.8 GW to be built by 2022. In the 1^st such auction, China's Trina Solar bagged all the solar power capacity awarded (see Trina Solar Wins Big In 1^st Colombian RE Auction). In March 2019, the country auctioned 1,398 MW renewable energy capacity under its Reliability Charge Auction selecting 23 plants comprising 2 solar projects with 238 MW total capacity (see 1.39 GW Wind/Solar Awarded In Colombian Auction).

The Bayunca 1 Solar Park has been realized by Promoenercol and Egal for $5 million and is expected to generate 7.1 GWh clean energy annually with 9,810 solar PV panels.