Energy transition path

Energy, Regulation & Policy    Sep 30, 2021 3:28 PM

Colombia is taking firm steps in its intention to develop its Energy Transition policy.

The country seeks to transform the sector at the technical, regulatory, infrastructure and market levels, Portafolio reported.

This with the aim of overcoming challenges such as the high vulnerability of the industry to El Niño phenomena and the effects of climate change.

In addition, closing the gaps in access to electricity and modernizing institutions and regulations that have not been updated since the mid-1990s.

An important step towards meeting these goal was the launching of the Energy Transformation Mission. This is an interdisciplinary team made up of 20 national and foreign experts, who made public policy recommendations.

“Colombia will have a clear roadmap for the modernization of the electricity sector, for the benefit of users. This interdisciplinary group of experts has put their knowledge at the service of the country and thanks to their contributions, we will continue moving towards the modernization of the electricity sector,” Minister of Mines and Energy (MinEnergia) Diego Mesa Puyo said.

It is important to remember that the government outlined a roadmap on four major axes for the energy transition: the development of projects with unconventional renewable sources, the increase in the natural gas supply, the storage of electric energy with batteries, and regulations such as the recently approved Energy Transition Law.

“It is a roadmap of the fundamental issues that will change the energy market, and with a consequent regulatory transformation. The development of wind and solar projects, added to the placement of new energy supply, as well as new market players will make the sector more efficient,” SER Colombia Germán Corredor said.

Naturgas’ Luz Stella Murgas said that natural gas and unconventional renewable energies are the ideal complement to guarantee energy supply with competitiveness.

Bottom-Line: The Colombian government has done an excellent job in promoting renewable energies and the electricity sector in recent years. However, there are still issues to improve especially in environmental licensing and security, as this is delaying the development of important projects for the industry.

It seems like the country is on the right track to achieve the goals set, but this is a long process that will require a solid legal framework, and a coordinated work between society, government and companies.

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