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Colombia renewables auction draws 22 bids

Bnamericas Published: Monday, February 04, 2019
Colombia renewables auction draws 22 bids

Fifteen developers have expressed interest in participating in Colombia's first auction for long-term electricity supply contracts from renewable projects this month, according to the mines and energy ministry.

The companies submitted plans for 22 projects – 17 solar parks, four wind farms and one biomass plant – ahead of the January 31 deadline for proposals.

In addition, 12 distribution companies sought to participate as buyers, the ministry said in a statement. The names of the companies and the projects were not disclosed.

"Our goal in this first auction is to reach 500MW of installed capacity from non-conventional sources of renewable energy," mines and energy minister María Fernanda Suárez said.

The February 20 auction will offer 1.183TWh a year to bidders via power purchase agreements lasting 12 years.

Projects are due online in December 2021 and will boast combined installed capacity of around 1.5GW, requiring investment of US$1.3bn to US$1.8bn, according to energy planning unit UPME.

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