Ecopetrol, a Colombian energy company, has teamed with Total Eren to build a solar photovoltaic farm in Colombia with a capacity of nearly 100 MWp. The Rubiales solar project will be developed in the municipality of Puerto Gaitan in Colombia’s Meta department. The solar farm will be developed, financed, built, and operated by Total EREN.
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Colombia has also set targets for government fleets and for public transportation systems, and cities are required to increase their share of electric bus purchases from 10 per cent in 2025 to 100 per cent in 2035. In 2019, Colombia also passed a national law (levy 1964) offering tax and other incentives to promote EV ownership and usage. The country implemented a supportive procurement policy wherein tenders from 2020 onwards favour 100 per cent electric buses with 15-year-long contracts.
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Wind power is expected to be a main driver of non-hydro renewables growth in the Latin American region over the next decade. The segment is forecast to add 34.7GW of capacity by 2031, growing at an average annual rate of 7.1% over the 10-year forecast period. However, the added capacity is expected to be nearly entirely from onshore projects as we expect only 850MW of offshore capacity to come online during the forecast period.
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Colombia’s National Roadmap for Net Zero Carbon Buildings, launched in June 2022 by the Ministry of Environment and Sustainable Development, aims to achieve net zero in all new buildings by 2030 and all buildings by 2050. Developed in partnership with WRI’s Zero Carbon Building Accelerator, the roadmap provides a framework for how the country can decarbonize the built environment by setting out clear goals, defining actions and identifying the actors responsible for implementation.
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Celsia, a power distribution company, has received a 369 MW wind turbine supply order with German wind turbine manufacturer Nordex Group for three wind projects in Colombia. Nordex will deliver 63 wind turbines to the Acacia II, Camelias, and Carreto wind farms as part of the contract. The Acacia II and Camelias wind projects are in the Guajira region of Colombia, while the Carreto wind project is in Atlantico.
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Yinson Holdings Berhad, through its wholly owned subsidiary Yinson Renewables Pte Ltd, is collaborating with Verano Capital Holdings SpA for developing renewable energy projects in Latin America. The initial pipeline will consist of 800 MW of utility scale solar projects spread across Chile, Colombia, and Peru.
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Renewable energy auctions in Colombia were designed to complement the country’s electricity market mechanisms, which were insufficient to attract non-hydro renewable energy development on a large scale. They now provide Colombia with opportunities to diversify power supply and increase the resilience of the power sector, while also fostering investor confidence.
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2020 was a turbulent year in Latin America. Few countries in the region were not touched by massive protests, political upheavals, economic woes or catastrophic storms—with the COVID-19 pandemic on top of it all. Despite this, some leaders in the region have continued to make much-needed advances to curb climate change, particularly, Chile, Colombia and Costa Rica.
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