The Colombian Ministry of Mines and Energy awarded 725 MW of new solar parks on the second day of the country’s Clean Energy Procurement Auction. According to the Ministry, the electricity produced will supply the equivalent consumption of more than 800,000 Colombian families through long-term supply contracts.
On the first day of the auction, the ministry awarded contracts for 270 MW of solar tied to 100 MW of battery energy storage at a closing price of COP 315.87 ($0.099)/kWh.
The awards across both days represent approximately 3% of Colombia’s regulated demand. The contracts will have a duration of 15 years, and the start of supply obligations is scheduled for 2030.
The ministry is yet to reveal the prices, daily contracted energy, location or companies responsible for the 725 MW of solar allocated on the second day. The Colombian Mercantile Exchange, which acted as the auctioneer, will deliver the audited and final results once all stages of the process are complete.
Colombia’s Minister of Mines and Energy, Edwin Palma, indicated that the next challenge will be to get the awarded power plants into operation.
“With this historic auction, we not only secured the energy the country will need in the coming years; we also secured nearly 7 GW ready to become the foundation of the electricity supply for the next decade,” he stated.
“The next government’s major challenge will be ensuring that these projects become operational and provide firm energy for homes, industry, and the country’s development.”
Colombia’s solar capacity has reached 4.58 GW, according to government figures.
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