AES Colombia plans

Company News    Jun 7, 2021 4:24 PM

Federico Echavarría, Manager of AES Colombia spoke about the challenges of the pandemic, the company’s projects and plans for this year.

Echavarría told La Republica that the hydroelectric plants of Chivor, Tunjita and the Castilla Solar project are operating normally.

The expert said that the company had three major challenges in 2020.

The first was the modernization plan for the Chivor plant, representing investments of US$120M.

Another challenge was the significant drop in energy consumption in the country.

“We made every effort to guarantee that the company had appropriate liquidity for the risks that could arise. We believe that we were able to correctly mitigate the pandemic risks,” Echavarria said.

The expert said that water levels was another factor that affected, as there was a very dry season, leading to lower generation.

Echavarria highlighted that the company has commitments for around 720MW, representing investments close to US$1.0B.

“We have both solar and wind projects. Specifically, those in the auction are approximately 260MW with investments close to US$400M,” Echavarria said.

The expert announced that the company will participate in the next renewable energy auction.

“We are in the process of analysis. We must define the technology. We have capacity in each of the projects in La Guajira. We want to explore the possibility of presenting ourselves with solar projects,” Echavarria said.

He said that renewable energies will provide competitive energy while hydroelectric power provides reliability.

“For now, we are confident that hydro plus unconventional renewables has no problem,” Echavarria said.

Bottom-Line: The energy sector faced the 2020 challenges with positive results, and companies are looking forward to this year with optimism.

Investments in renewable energy continue to increase, creating an optimal scenario to support demand in the medium term.

However, the social issue is generating great pressure and the government must quickly find solutions for this issue.

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