Renewables Feb 17, 2021 3:24 PM
AES Gener announced a budget to finance renewable energy projects.
The company will have a budget of US$306M to finance renewable energy projects in Colombia, Valora Analitik reported.
AES Gener said that this initiative is thanks to the country’s potential in this area and the tax incentives announced by the government.
AES Gener’s renewable projects include 2,305MW of wind, solar, hydroelectric and battery capacity.
The company recalled that around 1,356MW are already in operation, or under construction.
In Colombia, AES has one of the most important energy expansion projects in the Andean region, with a plan for the Jemeiwaa Kai wind complex (in La Guajira), with installed capacity of 648MW.
“The success of the capital increase is a result of the investors’ confidence in our transformational strategy,” AES’s Ricardo Falú said.
The expert added that the goal is to diversify energy generation sources to guarantee supply to customers in the region.
Bottom-Line: Colombia has a great solar and wind potential, and investors know it. These initiatives create a suitable environment to encourage new projects in the country.
The government has done a good job on regulatory issues and incentives to boost the growth of the energy sector in the medium and long term.