Colombia has recently allocated a significant amount of solar capacity in its latest energy auction, totaling 4.4 GW at a rate of $0.0182/kWh, with solar projects making up nearly all of the assigned capacity.
Colombian Energy Auction Results
The Colombian Ministry of Mines and Energy announced the allocation of 4,441 MW of PV capacity through the “Reliability Charge” energy auction, with solar projects dominating the selection process.
Of the total assigned capacity, solar plants accounted for approximately 99%, while the remaining 1% was divided among an 18 MW gas plant, 15 MW of biomass, and 5 MW of biogas.
The final price for the allocated projects was set at $0.0182/kWh, with a requirement for the selected facilities to supply electricity to the Colombian grid from December 1, 2027, to November 30, 2028.
Current Status and Future Development
A total of 80 power plants will provide the assigned capacity, with 27 of them already in the development phase. Six plants are currently under construction, while 47 are already operational.
As of the end of 2022, Colombia had an operational installed PV capacity of approximately 457 MW, according to data from the International Renewable Energy Agency.
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