Leaders in the renewable energy market

Company News    Aug 24, 2021 10:00 PM

The government has boosted the renewable energy sector in recent years and there are six companies leading this market.

More than 90% of the country’s unconventional renewables business is in the hands of six companies, after two energy auctions, Portafolio reported.

The market is being managed by Isagen, AES Colombia, Celsia, Grupo EPM, Enel Bogota Region and EDP renewable.

Isagen is developing the wind farms Guajira 1 (20MW), Wesp 01 (12MW), and in the licensing phase Guajira 2 (420MW). In addition, the firm acquired the Llanos 4 and 5 solar plants (38MW) in Meta, and the Sabanalarga plant (100MW) in Atlántico, with an investment of more than CoP$1.2T.

“We are working on a growth strategy with an internal portfolio whose potential is to exceed 1,500MW in clean unconventional electricity generation” Isagen’s Camilo Marulanda said.

AES Colombia is developing the Jemeiwaa Kai megaproject composed of five wind farms. In addition, the firm is building the San Fernando Solar farm, in the oil field of the same name, in Meta.

“We are at 36% of our goal of adding 2,000MW by 2030 in renewable energies, with an expected investment of US$1.0B,” AES Colombia’s Federico Echavarría said.

Celsia, a subsidiary of Grupo Argos, has already developed four large-scale solar farms in the country: Celsia Solar Bolívar, Celsia Solar Espinal, Celsia Solar El Carmelo and Celsia Solar Yumbo.

In addition, the company has more than 15 solar farms under evaluation.

Grupo EPM is developing the Hidroituango mega project and the firm has shown its interest in unconventional renewable energies.

“We are preparing to participate in the October energy auction. Competitive solar projects will be presented,” EPM’s Jorge Carrillo said.

Enel Bogota Region, a brand that will enter the market soon, is already well on its way with the El Paso solar plant. This facility has been ready for a little more than two years and is delivering energy to the SIN. The firm also has the La Loma photovoltaic project with an installed capacity of 173.2MW.

Bottom-Line: Government initiatives have been well received by companies and investors. Large players are entering the renewable energy market, and the next auction will be important to continue with the growth and consolidation of this industry.

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