Air-e’s auction

Company News, Energy, Renewables    Dec 6, 2021 3:08 PM

Air-e’s General Manager, Jhon Jairo Toro, spoke about the response from investors interested in selling renewable energy to the company to expand its generation portfolio.

Toro said that 35 companies have shown interest in participating in the process led by Air-e, as the first distribution company to organize an auction for power generation projects from Unconventional Renewable Energy Sources, Valora Analitik reported.

Air-e, as grid operator of the departments of La Guajira, Magdalena and Atlántico, published the definitive bidding documents and conditions to participate in this auction.

According to estimates, the sale potential amounts to more than 5 thousand megawatts of energy in solar and wind projects.

After analyzing the comments submitted by potential bidders, several relevant modifications were made, among them, the expected start-up date for projects wishing to participate, changing from January 2023 to January 2024.

This change allows developers to have better risk management, more time to complete development and more favorable conditions than the current ones for the supply of equipment.

The final adjusted schedule now gives greater flexibility to prepare bids, as pre-qualification documents are due on December 28th and bids are due on January 22nd, 2022.

Another change in the auction is the possibility of extending the term of the contract beyond the initial 15 years, and, depending on the early entry of projects, the possibility of extending the supply period for up to 20 years is open.

Another key aspect, which was adjusted for these final specifications, was the guarantee scheme, since now Air-e will deliver) a policy that supports its commitment to the awarded projects covering the period prior to the start-up date (FPO.

Subsequently, participants can choose between a bank guarantee and a fiduciary scheme to back payment during the operation of the project.

“This demonstrates our commitment to the region and alternative sources of clean energy generation,” Toro said.

Bottom-Line: Air-e continues to demonstrate its commitment to improve the quality of service in the Caribbean region through new energy sources. This auction is important, considering that it will drive new investments in the region and will be fundamental to guarantee service in the short and medium term.

 

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