Pre-qualification stage completed

XM announced the completion of the pre-qualification stage of the legal, financial and technical requirements established in the bidding conditions for participants in the renewable energy auction.

The company said that 69 participants continue in the process, La Republica reported.

For the next stage (presentation of the bid bond) of the auction there are 47 participants as buyers and 22 as sellers, representing 38 generation projects.

The Minister of Mines and Energy (MinEnergia), Diego Mesa, said that the 47 buyers and 38 plants represented by 22 pre-qualified sellers show the interest in the country.

“These results demonstrate once again that the regulatory and fiscal framework and the implementation of innovative public policies have made Colombia’s Energy Transition a reality. This third auction will allow us to further increase the participation of renewable energies in our generation matrix, and advance in the national purpose of achieving carbon neutrality by 2050,” Mesa said.

The long-term renewable energy auction will be a two-pronged, closed-envelope, voluntary auction for buyers and sellers. The two-pronged approach means that both the supply and demand sides receive bids and the allocation result takes both into account.

XM’s María Nohemi Arboleda said that this phase was developed in strict compliance with the bidding terms and requirements of the auction.

Bottom-Line: The number of participants continues to be high, generating positive expectations for this auction.

The country has great potential in renewable energies and the government has created a suitable environment to attract the investors’ interest to the country.