Solar Sweeps Colombia’s 3rd RE Auction

9 Companies Win Colombian Auction With 11 Solar Generation Projects

Solar Sweeps Colombia’s 3rd RE Auction

Colombia’s Energy Ministry said the weighted average winning bid for the 3rd renewable energy auction is understandably high considering global supply challenges. (Photo Credit: Ministry of Mines and Energy, Colombia)

  • Colombia has selected 796.3 MW of solar power capacity for its 3rd renewable energy auction
  • The weighted average winning tariff determined at COP 155.8 per kWh is 15% lower than current market price
  • 9 winning companies need to bring the capacity online by January 1, 2023; power generated will be procured by 53 offtakers

Colombia’s Ministry of Mines and Energy has selected 11 solar power generation projects with a combined capacity of 796.3 MW in the country’s 3rd renewable energy auction concluded on October 26, 2021.

The weighted average winning price in the auction was COP $155.8 ($0.041) per kWh, which according to the authorities, is not only a stable price over a long term, but is also 15% below the market price for electricity in the country. The ministry said this is very positive given the current circumstances in the renewable market with logistical challenges.

A total of 9 companies emerged as winners of the auction:

  • EDF Renewables,
  • TWSolar,
  • Canadian Solar,
  • Solarpack,
  • Genersol,
  • Enel Green Power,
  • Empresas publicas de Medellin (EPM),
  • Celsia,
  • Urra.

Winning projects worth COP $3.3 trillion need to come online by January 1, 2023 under 15-year power purchase agreements (PPA). Facilities once complete will be connected to the national grid and supply power to 53 offtakers.

In the country’s 1st renewable energy auction, Colombia awarded 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

SENIOR NEWS EDITOR Anu is our solar news whirlwind. At TaiyangNews, she covers everything that is of importance in the world of solar power. In the past 9 years that she has been associated with TaiyangNews, she has covered over thousands of stories, and analysis pieces on markets, technology, financials, and more on a daily basis. She also hosts TaiyangNews Conferences and Webinars. Prior to joining TaiyangNews, Anu reported on sustainability, management, and education for leading print dailies in India. [email protected]

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