Colombian authorities awarded 7.49 GW of renewable energy projects in the country’s latest procurement.
Colombia’s National Mining and Energy Planning Unit (UPME) has announced the results of its renewable energy procurement auction. It has determined the renewable energy capacity to be 7,493 MW through the procurement procedure.
A total of 5,774 MW is distributed among 147 solar projects. UPME did not reveal more detailed information about the projects or the final auction prices.
Projects of up to 5 MW could participate in procurement projects. Selected developers will be granted 15-year power purchase agreements.
In the country’s first renewable energy auction, which ended in October 2019, UPME allocated 2.2 GW of solar and wind capacity. The final average price was 95 COP/kWh ($0.020), while the highest bid was only 110 COP.