UPME Announces New Energy Tenders

Energy, Regulation & Policy, Renewables    Sep 13, 2018 3:47 PM

The Energy Mining Planning Unit (UPME) published the schedule for the implementation and administration of the first auction of long-term electric power contracts, in which it will also be possible to participate with non-conventional technology projects.

From a Ministry of Mines and Energy (MinMinas) statement, with translation and commentary from HCC:

“Through the auction, the government seeks to contribute to the supply of national demand by using, for the first time in the development of the Colombian electricity sector, incentives for the diversification of the country’s energy generation park, regional energy security, complementarity with existing resources and reduction of emissions in the electricity sector.

To achieve these purposes, MinMinas has developed a mechanism that includes, for the first auction, the hiring of the required demand as of 2022.

The contracts resulting from the auction will be valid for 10 years and the target demand to be auctioned is equivalent to 4.35% of the projected demand in the UPME’s average for 2022.

This mechanism, which will be implemented and administered by the UPME, will be carried out in January, 2019.

To access the schedule, click here.

Bottom-line: We are glad to hear that the government has been working on clear regulations to provide firms certainty in new energy tenders.

Colombia is betting on a sustainable, diversified energy matrix, and clear rules are the base for success.

 

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