Colombia to include geothermal in first renewable energy auction planned for October 2019

Evening view over Bogota, Colombia (source: flickr/ Tijs Zwinkels, creative commons)
Alexander Richter 21 Jul 2019

In the planned Renewable Energy Auction, Colombia plans to include geothermal energy. The auction, previously postponed, is now scheduled for October 31, 2019 with an obligation to start supplying January 1, 2022.

As reported in conjunction with the recently concluded GEOLAC geothermal congress for Latin America and the Caribbean, New Energy Events reports that Colombia’s first renewable energy auction, which will be held in October of this year, will be open to wind, solar, geothermal, small hydroelectric and wave energy projects.

It is estimated that up to 18 MW of potential geothermal development could enter the tender with potential for much more.

The renewables tender had to be postponed in February, and is now scheduled for the 31st October 2019.

This auction will match renewable projects of a 5 MW capacity or less with potential investors and buyers. The contracts awarded will run for 15 years.

The total volume of projects to be tendered in October have yet to be set by the government. The initial  attempt was designed to offer over 1 GWh in auction contracts.

Diversifying its energy matrix is essential for Colombia, as its energy demand is largely reliant on hydroelectric sources, which are vulnerable to climate change due to droughts or floods.

The tenders will set an obligation for producers to start supplying by 1 January 2022.

Source: PV tech via New Energy Events