Colombia scheduled the second long-term renewable energy auction to late October
Post date: 15/07/2019 - 21:24
The Ministry of Mines and Energy of Colombia has rescheduled the second long-term renewable energy auction to late October 2019, according to French consultancy Enerdata. Colombia's first long-term renewable energy auction was launched in early 2019 and attracted bids totalling 1,500 MW from 27 companies, but was declared void over competition concerns in February 2019.
The auction will be open to new renewable power generation projects of 5 MW and more to be commissioned before January 1st, 2022. Eligible technologies will include wind, solar, geothermal, small hydro and wave energy. Power generators and buyers will make their offers on specific time blocks (between 0 AM and 7 AM, from 7 AM to 5 PM and from 5 PM to 0 AM) and power generators will commit to provide a guaranteed amount during the time block, says the article.
Under terms published in early 2019, the February 2019 tender process would have granted contracts for the supply of 1,183 GWh under 12-year power purchase agreements (PPAs). Under its Ideario Energetico 2050 policy issued in 2015, the government aims to add at least 474 MW of wind energy capacity, 143 MW of solar, 275 MW of geothermal and 314 MW of cogeneration with biomass by 2028, i.e. a total of 1,207 MW in renewable energy capacity addition.