EPM to bet on renewables

Company News    Aug 9, 2021 7:05 PM

The EPM group is preparing for a new challenge: unconventional renewable energies.

CEO Jorge Andrés Carrillo Cardoso told Portafolio that the company will participate in the next renewable energy auction with solar plants.

The expert said that EPM is making a great effort to face this challenge, but the company’s priority is to “move Hidroituango forward”.

“We have an investment plan for CoP$11.2T for 2024. Hidroituango takes a large portion of the resources, (CoP$4.2T) to finish the work. For water projects, we have CoP$3.9T, and in energy transmission and distribution more than CoP$2T,” Carrillo said.

Carrillo said that EPM will bet on unconventional renewable sources, as part of a ‘post-Ituango plan’.

“We will present competitive projects in solar energy to contribute electricity to the generation matrix. In gas and water, we are working on projects that guarantee firm supply,” Carrillo said.

He recalled that the company has the Jepirachí wind project in La Guajira and a solar  project in the municipality of La Dorada, Magdalena Medio.

“For future projects, we have explored several areas of the country in which connection points and harmonious work with the communities are viable,” Carrillo said.

In addition, the CEO said that the Hydroituango project is going well and on schedule according to the latest update.

“Hidroituango will operate with its eight units. The first 1,200MW will come on line from July 2022,” Carrillo highlighted.

Bottom-Line: EPM’s main challenge is to start operations with Hidroituango as soon as possible. The company continues to send messages of reassurance about this project, but uncertainty is still very high about the start-up date.

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