Administrator of the third energy auction

Regulation & Policy, Renewables    Jun 24, 2021 7:04 PM

The Ministry of Mines and Energy (MinEnergia) announced the organization that will administer the third energy auction.

XM will implement and administer the third renewable energy auction, Portafolio reported.

Both entities signed an inter-administrative agreement, defining that XM will be in charge of implementing and administering this third auction.

XM will be in charge of preparing, adjusting and socializing the bidding documents and the specific conditions for those participating in the auction. In addition, it will develop and operate the technological platform to manage the process and encourage energy market agents to participate in it.

“This third auction will further consolidate the Energy Transition that has made Colombia an international benchmark in the incorporation of renewable energy from unconventional sources,” MinEnergia Diego Mesa said.

Mesa said that XM’s participation as administrator provides guarantees of transparency and operational excellence.

XM will conduct virtual training for interested parties, hire an auditor to verify the process, develop the award and manage the resulting contractual process.

“We assume the appointment as administrators of this third auction, aware of the great responsibility we have with the country and with the flexibility of the energy matrix. Our experience, knowledge and independence are strengths that we put at the service of the energy transition and Colombians,” XM’s María Nohemí Arboleda highlighted.

Bottom-Line: The auction’s challenge is attracting the investors’ interest in the midst of a large social unrest in the country. Offering guarantees and support in the development of the projects will be fundamental to succeed in this process.

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