Company News Apr 30, 2021 2:44 PM
The Renovatio Group and MPC Energy Solutions announced a Power Purchase Agreement (PPA).
The PPA agreement is for Los Girasoles Solar Park, with a capacity of 9.5MW, La Republica reported. This is the first PPA product of the First Private Renewable Energy Auction launched by Renovatio in November 2020.
The companies explained that the agreement includes the delivery of around 23GWh per year over a 12-year period starting in 2Q22.
Renovatio received offers for around 100MW and expects to award 20GWh/month, making this agreement the first step and representing 10% of its goal.
“It is gratifying to see that our innovative efforts to organize the first private renewable energy auction in Latin America, have been well received,” Francisco Sanclemente, General Manager of Renovatio, said.
Sanclemente said that this PPA is a milestone for Renovatio in its mission to become the first 100% renewable energy provider in Colombia.
“The auction is still open as we continue to negotiate more MWs to award,” the expert said.
Bottom-Line: Colombia continues to take important steps towards its goal of promoting renewable energies and this announcement is proof of that.
This private auction has interesting expectations and can become a reference point for new auctions in the coming years.