Sustainable growth and economic reactivation

Electricity, Energy, Regulation & Policy, Renewables    Feb 22, 2021 3:59 PM

Clean and sustainable growth is one of the government’s pillars to reactivate the economy.

The government expects investments around CoP$19T in clean and sustainable growth, El Espectador reported.

Clean and sustainable growth is one of the four pillars of the recovery after the crisis generated by the pandemic

Authorities will support 32 projects in this segment, and the government estimates that there will be 1,436 new verified green businesses, with an investment of CoP$19T in 2022, generating more than 114,000 jobs.

The government hopes to improve the country’s energy efficiency, specifically in the use of energy by household appliances.

The Mining-Energy Planning Unit (UPME) will develop an identification of the electrical appliances classified as energy efficient between 2021 and 2022. These appliances will be included in the Action Plan for Energy Efficiency presenting strategies to promote the replacement of inefficient equipment.

The government announced changes in the prior consultation process, according to the last Conpes.

“Between 2021 and 2022, the reduction in response times in the different stages of the consultation will be measured,” according to the document.

Bottom-Line: The country will have to face several challenges to promote the energy transition. This process will be delayed, but it seems like the government is laying solid basis to encourage the renewable energy sector.

Colombia has great potential in green energy and investors need the right signals to leverage it.

 

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