1GW renewables auction launched in Colombia

Colombia launched a tender for renewable energy projects through 10-year power purchase agreements. This could be an opportunity to introduce geothermal projects to a country with high potential for them.

The Colombian Government’s statement indicated that the contracts would produce a total power of 3,443 GWh per year.

With the public and international auction process underway, Colombia are looking to diversify their energy mix with a clear focus on renewables. 

“In Colombia, the renewable agenda is absolutely fundamental, President Duque has set a goal of at least introducing 1,500 MW of renewable energy”, said María Fernanda Suárez, Minister of Mines and Energy.

The government’s energy plan until 2050 highlights the potential of geothermal in the country. “In the most pessimistic scenario”, the plan reads,  “it sees the addition of 474 MW of wind energy, the possibility install 143 MW of solar energy, 275 MW of geothermal energy and 314 MW of cogeneration with biomass.”

Projects selected are expected to enter into commission by December 2022.