Colombia will include geothermal in its first renewable energy auction

Colombia’s first renewable energy auction, which will be held in October of this year, will be open to wind, solar, geothermal, small hydroelectric and wave energy projects.

Colombia currently has an estimated 18MW of installed geothermal capacity, and potential to install much more.

The renewables tender had to be postponed in February, and is now scheduled for the 31st October 2019.

This auction will match renewable projects of a 5MW capacity or less with potential investors and buyers.

The contracts awarded will run for 15 years.

The total volume of projects to be tendered in October have yet to be set by the government. The initial  attempt was designed to offer over 1 GWh in auction contracts.

Diversifying its energy matrix is essential for Colombia, as its energy demand is largely reliant on hydroelectric sources, which are vulnerable to climate change due to droughts or floods.

The tenders will set an obligation for producers to start supplying by 1 January 2022.