The mining and energy sector is developing several projects to reactivate the economy, but they are not progressing at the expected pace.
The sector is developing 40 projects in mining, hydrocarbons and electric energy, and these are part of the initiatives of the ‘Commitment for the future of Colombia’ for the economic reactivation of the country, Portafolio repoted.
The worrying thing is that only two of the 40 are fully operational. The 38 projects with delays report only 15% progress on average.
These projects represent investments of CoP$34.1T, generating 6,300 jobs.
For the electric projects, the commitment to accelerate the development of 25 projects which are behind schedule. Those that are not, have connection problems.
The solar plants San Felipe, Cartago, Latam Solar, El Campano and La Loma failed to start on time; and the wind farms Windpeshi, Alpha, Beta, Apotalorru, Casa Eléctrica, Chemesky, TumaWind, Camelia and Acacias 2 fail to contribute 1,577MW of installed capacity to the generation matrix.
“The construction of the projects must continue, as they are a key piece of the country’s economic reactivation,” Andeg’s Alejandro Castañeda said.
The delays for the development of the prior consultations, which was accentuated with the pandemic, obstacles of indigenous groups and deficiencies of infrastructure in roads and ports in the department of La Guajira have put the initiatives in check.
The obstacles by indigenous communities affected the Colectora transmission line project in La Guajira, whose purpose is to bring electricity from these renewable sources to the interconnected system.
Two thermoelectric projects, Termosolo I and Termosolo II, have had their guarantees executed, which means that they will not start operating, and only Termotesorito is moving forward.
Bottom-Line: The energy sector has announced large investments and projects, but social problems are affecting most of the plans.
Investors are aware of the country’s potential in energy issues, but the challenges to develop the projects may diminish their interest in Colombia.