Colombia awards 800MW of solar in 3rd renewables auction

• Colombia has actually awarded contracts to 11 solar PV projects with a combined capability of 796.3 MW in its 3rd renewable energy auction.

The gaining projects are backed by 15-year power purchase contracts (PPAs) as well as are required to be operational from January 2023.

Average winning bids in the auction yesterday (26 October) were COP155.8/ kWh (US$ 0.0414/ kWh), according to Colombia's Ministry of Mines as well as Energy, which claimed the 11 PV plants will certainly support 4,800 jobs throughout the country.

"The success of this new auction reveals that the energy change in Colombia is a fact," stated Preacher of Mines and Energy Diego Mesa.

Around 1,365 MW of solar and also wind projects that were awarded contracts in a 2019 auction are currently said to be unfinished across Colombia.

The clean energy ramp-up comes as Colombia intends to minimize its greenhouse gas discharges by 51% by 2030. Mesa claimed previously this year that the nation will have more than 2.8 GW of released renewables by the end of 2022.