Colombia launches long-term power auction to stabilize prices and boost renewable energy procurement

Colombia has launched a new long-term electricity auction offering 15-year pay-as-bid contracts starting in 2030 to reduce price volatility and address expected power supply gaps. The auction includes multiple contract profiles for different generation technologies, including wind, solar, biomass, geothermal, and small hydro, targeting both new and existing projects of 5 MW and above.

Source: Renewables Now