New players in the energy market

Company News, Regulation & Policy    Jun 25, 2021 4:13 PM

Andesco’s Camilo Sanchez spoke about the arrival of new players with expertise in clean energy and the effects on foreign investment in the country.

Sanchez told Valora Analitik that the arrival of new players in the energy market will boost foreign investment in Colombia.

The expert said that the new companies will come to accompany the firms with presence in the country.

“We have not realized that we have some gigantic monsters in the country. They are large companies that have generated an impressive industry such as: Grupo Energía Bogotá (GEB), Acueducto de Bogotá, Promigas, EPM, and Vanti, among others,” Sanchez highlighted.

Sanchez added that the companies are making an important effort, growing strongly despite the difficulties of the pandemic and the national strike.

The expert said that several foreign firms will enter to compete in green and blue hydrogen and renewable issues.

“Companies from Japan or France will come to the country, and other parts of the world where these resources cannot be generated directly. They choose Colombia because of its huge potential and its privileged geographical position to generate new energy sources,” Sanchez explained.

In addition, ETB’s Sergio Gonzalez said that fiber optic interconnection and 5G will be fundamental for the development of smart cities and their inhabitants.

EPM’s Jorge Andres Carrillo said that the company remains committed to guaranteeing continued access to residential public services for all its customers and users, through investments (CoP$3.1T) in infrastructure and operating assets.

“We connected even the most remote regions of Antioquia with the rural electrification program. We will connect more than 5,000 customers to energy service by 2020, benefiting close to 20,000 people,” Carrillo said.

Bottom-Line: Authorities have created a legal and attractive scenario for companies and investors, but there are issues that still generate a lot of concern such as environmental licenses, security and social conflict.

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