Colombia prepares 2021 renewables auction to become 'leader in Latin America's power shift'

• The federal government of Colombia has actually introduced plans to hold a renewable energy auction in the very first quarter of 2021 that it says could stand for an investment of greater than US$ 6 billion in the nation.

Talking at the inauguration of a brand-new solar farm in the city of Cartagena, President Iván Duque said the auction will make the country a "leader in Latin America's power transition".

"In simply 27 months we have multiplied the mounted renewable capacity in the country by five and in the following 22 months we are mosting likely to multiply it by greater than 20 times," he added.

The renewables auction, which will certainly be Colombia's third, will be for projects that are set to be operational by December 2022. Conditions of the public auction process will be specified and introduced by the country's Ministry of Mines and Energy.

Colombia's green power ramp-up has seen it go from less than 50MW of installed renewables in 2018 to greater than 2.8 GW set to be online by the end of 2022, according to Diego Mesa, minister of Mines and also Energy. "This brand-new auction will enable the country to further capitalize on the prospective solar generation," he stated.

The statement comes after Colombia kept in October 2019 its very first large-scale eco-friendly energy auction, awarding 1.3 GW to solar as well as wind applications. A 'dependability fee' auction previously in 2019 likewise saw PV bidders pick up 238MW of ability.

Colombia's federal government has actually given that eliminated logistical obstacles to aid 14 projects that are being created on the back of those auctions to import solar as well as wind devices with the nation's ports. The federal government said the measure will certainly quicken commissioning as well as allow designers to choose from even more port areas.

The Ministry of Mines and also Energy claimed today that the production of 6,000 jobs as a result of these projects being created highlights that "renewable resource will be fundamental to drive the lasting resurgence that the nation requires".

Data from Colombia's power planning device UPME published previously this year show the nation has a solar pipeline of nearly 9.5 GW, complying with a surge in project proposals in 2019. That number is over half the 18.3 GW across all energy sources, consisting of hydro (4.4 GW), wind (2.5 GW) and also thermal power (1.9 GW). It is anticipated that solar and wind will certainly comprise 12% of the country's energy mix by 2022.