Colombia Launches 3rd Renewable Energy Auction

Colombian Ministry of Mines & Energy Officially Announces Country’s 3rd Renewable Energy Auction; Seeks Projects To Come Online By January 1, 2023

Colombia Launches 3rd Renewable Energy Auction

While Colombian Energy Ministry has not specified the capacity it seeks to procure in the 3rd renewable energy auction, the country’s president previously said this round will have 5 GW capacity. (Photo Credit: Ministry of Mines and Energy)

  • Colombia has launched 3rd renewable energy auction to select projects that can deliver clean energy for 15 years
  • Projects need to have at least 5 MW or more capacity and should have grid connection rights
  • Winning projects should come online by January 1, 2023 and deliver power for 15 years

The Ministry of Mines and Energy in Colombia has announced the official launch of the country’s 3rd renewable energy auction for non-conventional renewable energy sources (FNCER). It is seeking projects with a minimum of 5 MW or more capacity that are registered with the National Mining and Energy Planning Unit (UPME).

Among other eligibility criteria, the ministry said projects need to have secured grid connection rights. Project that had secured PPAs in 2019 auction rounds of Reliability Charge and the 1st renewable energy auction, are welcome to enter this round, provided they submit their offers for block 3 which relates to electricity supply from 5.00 pm to 12.00 am. Power supply during this time period will ensure necessary capacity to meet electricity requirements since it is the period with maximum energy consumption.

Winners will be declared before October 31, 2021 and projects need to be grid connected by January 1, 2023. Winning projects will enter power purchase agreements (PPA) for 15 years.

No specific capacity was mentioned by the ministry that it wants to procure during the auction, however in November 2020 Colombian President Ivan Duque said the government plans to launch 2nd renewable energy auction in Q1/2021 with 5 GW of solar and wind energy capacity (see Colombia Planning 5 GW RE Auction In Q1/2021).

Colombia previously conducted its 1st renewable energy auction in the country awarding 2.8 GW capacity in October 2019 (see Trina Solar Wins Big In 1st Colombian RE Auction). It was followed by the 2nd renewable energy auction called Reliability Charge Auction when it awarded 1,398 MW including 238 MW of solar capacity to the winners (see 1.39 GW Wind/Solar Awarded In Colombian Auction).

About The Author

Anu Bhambhani

Anu Bhambhani is the Senior News Editor of TaiyangNews

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