GEB’s plans

Company News    Oct 25, 2021 9:35 PM

GEB’s Juan Ricardo Ortega spoke about the company’s investment plans, after the new alliance with Enel.

Ortega told La Republica that all approvals have been given in the new alliance, the issue went through assembly of both GEB, Enel Americas and Enel Codensa.

“The process is in the hands of the Superintendence of Industry and Commerce and should be ready by January 2022. This is the start of Enel Colombia, which will work in Cundinamarca and Bogotá,” Ortega highlighted.

He said that the new company will focus on digitalization, unconventional renewable energies and substations for electric mobility.

“Enel will invest more than CoP$2T and we will be close to CoP$1T,” Ortega highlighted.

The expert said that the company expects to file the social licensing of the Colectora line before the end of the year.

“There are more than 220 consultations, because in La Guajira there are many conflicts, people who have arrived from Venezuela are disputing territories and there are about 40 communities that are unable to meet due to internal violence,” Ortega explained.

Ortega said that this project will have two circuits with 500MW of transmission capacity, representing an investment of approximately US$300M.

He said that there is no plan B in case this project does not come into operation on the stipulated dates.

“I am not sure that the projects will come before the line, but it will be important to think about realistic dates. We are committed to have the project ready in 2H23, relying on licenses next year,” Ortega said.

The expert said that it is necessary greater participation of the Colombian state in prior consultations.

He said that the company will wait on the issue of the regasification plant in the Pacific, as this is a difficult area.

“No one can take the risk against their capital. If clarity is achieved in that sense, we will bet on that sector,” Ortega acknowledged.

Bottom-Line: The issue of prior consultations in La Guajira appears to have diminished GEB’s interest in participating in the regasification project in the Pacific.

The government must work on this issue, as it is affecting the investors’ interest in the country.

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