ECP inaugurates second solar park in Meta

Company News    Oct 26, 2021 5:27 PM

Ecopetrol (NYSE: EC) inaugurated its second solar park.

This facility has the capacity to generate 61 megawatts through the use of 114,000 solar panels, El Espectador reported.

This plant is located in San Fernando, and joins the one in Castilla (Meta) to bring Ecopetrol’s (NYSE:EC) renewable energy generation to 112MW in two years.

AES Colombia built this facility in the municipality of Castilla La Nueva for Cenit.

In addition to construction, the contract includes power generation for 15 years, as well as maintenance of the facility, representing investments of US$40M.

ECP will start operating six more solar farms, located in Meta, Bolívar, Antioquia, Arauca and Huila over the next 14 months.

“Our goal is to incorporate 400MW of renewable energy by 2023,″ ECP’s Felipe Bayón said.

The energy that San Fernando will generate (capable of supplying a city of 93,000 inhabitants) will serve to supply part of the demand of the company’s operations in the Llanos Orientales.

ECP estimates that this wind farm will prevent the emission of 508,000 tons of CO2 equivalent over 15 years.

The NOC will continue to increase its presence in renewable energies, installing photovoltaic roofs in administrative areas in different departments of the country. It also continues to evaluate and mature wind, biomass, geothermal, small hydroelectric, and battery storage projects.

Bottom-Line: Companies in the oil sector are positioned as key players in the inclusion of new generation sources in the country.

The oil and renewable energy sectors can coexist, despite the fact that some political sectors want to sell the idea to the contrary.

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