EPM plans for next auction

Company News    Aug 26, 2021 4:03 PM

Alberto Mejía Reyes, EPM’s Wholesale Energy Market Manager, spoke about the company’s interest in the third renewable energy auction.

Reyes acknowledged that the issue is still under evaluation, but the company will seek to work together with Invenergy, Valora Analitik reported.

This company has installed wind projects of 17,000MW and about 5,800MW of solar energy and has the experience EPM needs to compete in the auction, according to Mejía.

“We cannot give details of the projects we are visualizing, but the priority will be to present ourselves with solar projects,” Mejía explained.

He said that one of the challenges of the October auction will be related to the pandemic, which has caused increases in shipping costs, equipment and solar panel prices.

“It is a whole environment that may affect the competitiveness of this auction a little bit. Another issue is the exchange risk. We are in a situation of a high exchange rate,” Mejia said.

Mejia added that the company’s goal is to be generating energy in January 2023.

“We expect prices to be quite competitive, and I think that could be attractive to demand,” Mejia said.

Bottom-Line: This possible alliance would be great news for the country’s energy sector, and would bring great knowledge to EPM in the area of unconventional renewable energies.

Attracting new players to the Colombian market is key to boosting the growth of this industry.

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