Enel-Codensa wins auction

Company News    Nov 3, 2021 4:16 PM

Enel-Codensa was awarded eight contracts during the third renewable energy auction.

The company will purchase 345GWh/year of energy during the period 2023-2037, La Republica reported.

This energy will come from Unconventional Renewable Energy Sources (FNCER) and will allow the partial coverage of the needs of its customers in Bogota and Cundinamarca.

“With this milestone, we take another step towards sustainable development, providing clean energy produced locally and bringing reliability to the energy system,” Carlos Mario Restrepo, Enel-Codensa’s Market Manager, said.

The expert said that long-term contracts mean protection against market contingencies or climatic changes such as the El Niño phenomenon, thus reducing their exposure to the volatility of the energy exchange and benefiting the end customer, as stability and prices are transferred to the service tariff.

The 345 Gwh/year granted corresponded to 100% of the energy sought by the company and awarded in the general auction. The weighted average purchase price was 22% below the current market average.

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