New energy projects

Regulation & Policy, Renewables    Jun 4, 2019 4:39 PM

Authorities announced that there are 76 new energy generation projects ready to be offered in the next energy auction, programed for the second half of 2019.

The initiatives are registered in the list of Current Projects (RPV) of the Mining and Energy Planning Unit (Upme), and are programmed to start operating in 2022, Portafolio said.

According to the RPV’s records, the 76 projects will have the capacity to offer 5,269MW to the National Interconnected System (SIN).

The type of initiative with the highest amount of accepted projects is solar (59), capable of adding 3,552MW to the SIN, followed by wind power projects (12) that have the capacity of adding 1,662MW to the SIN, and five biomass initiatives, capable of providing the country with 55.32MW of energy capacity.

The government’s goal for the next four years is to go from 50MW of renewable energy installed capacity, which is what a small city like Ibague needs, to 1,500MW; equivalent to what big cities like Medellín and Cali need together.

To achieve their goals, authorities will have to invest between US$1.3B and US$1.8B, in addition to reducing CO2 emissions by three million tons, equivalent to planting 6 million trees.

“We have a unique opportunity in several areas of the country, such as the Caribbean region (departments of La Guajira and Cesar): the wind speed is double the world average,” said Minister of Mines and Energy (MinMinas), Maria Fernanda Suarez.

The long-term power auction aims to award 1,183,000MWh every year through medium-term and long-term contracts, with a term of 12 years each.

Bottom-line: The government was serious when it said boosting the national energy market was going to be a top priority.

Companies are aware of Colombia’s potential, but the ‘real test’ will be having them participating in the upcoming energy auction (again), hoping to find better regulation this time around.

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