The country has a roadmap to increase the share of renewable energies in electricity generation.
The Indicative Plan for the Expansion of Energy Generation and Transmission 2020-2034 and the Energy Transition bill aim to increase the participation of renewable energies in the generation matrix, Portafolio reported.
The first document is in the public comment phase and includes ten scenarios in which the development of unconventional renewable generation projects is expanded by more than 70%. In addition, the plan establishes a target of more than 45% generation from wind and solar plants.
“Diversifying the country’s energy matrix is a pressing need, it requires reducing dependence on non-renewable (fossil) sources, a transition that incorporates clean fuels into the system, with the goal of reducing emissions of polluting gases and other collateral environmental impacts,” the document said.
Mariana Villegas, Senior Associate for Energy, Mining and Infrastructure at Baker McKenzie, said that the decarbonization of the energy matrix is key to achieving CO2 emission reduction goals.
“It is necessary to replace electricity production based on coal and fossil fuels with renewable sources, preferably unconventional,” Villegas explained.
María Beatriz Segura, Senior Associate at Mendoza, said that these two future regulations will be included in Colombian legislation to strengthen the energy transition.
Jaime Concha, Vice President of Mining, Hydrocarbons and Energy of ANDI, highlighted that Colombia has the sixth cleanest energy matrix in the world.
“This makes it necessary to increase the participation of renewable energies, due to the need to diversify the generation matrix and complement it due to issues such as the ‘El Niño’ phenomenon,” Concha said.
Bottom-Line: The country has an enormous solar and wind generation potential, and authorities are making a great effort to leverage it and boost the sector as quickly as possible.
The regulatory framework will be fundamental to encourage the development of renewable projects in the country.