February 27 (Renewables Now) – Colombia’s first electricity auction that sought to award 12-year contracts for the annual supply of 1.183 TWh of renewable power concluded on Tuesday without winners as the competition standards had not been met, the country’s energy ministry said.
The next auction will be held in the second quarter of 2019 before June 30, Colombian energy minister Maria Fernanda Suarez said at the press conference.
A total of 12 offers to buy and eight offers to sell electricity were cleared to participate in the first auction.
Colombia's national mining and energy planning unit UPME, which organised and live-streamed the auction, did not reveal details about the bidding projects other than that biomass, solar and wind power were the technologies that were proposed.
Enel Green Power Colombia, Isagen SA, Empresa de Energia del Pacifico SA (EPSA), Canadian Solar Energy Colombia, Trina Solar Colombia, SPV Villanueva, Guajira Eolica I and Solarpack Colombia were the companies that presented the electricity generation projects.
The buying utilities were Cedenar, Electrificadora del Caribe (Electricaribe), Electrificadora del Meta (EMSA), Codensa, Emgesa, Generadora y comercializadora de Energia del Caribe (Gecelca), Electrificadora del Huila (Electrohuila) and Empresa de Energia de Boyaca SA (EBSA).
Regardless of the auction results, minister Suarez called the whole process a learning curve and expressed optimism about the country’s path to renewable energy. She invited the bidding companies to submit their proposals at the next auction.
Colombia, which sources 70% of its electricity from hydropower, is seeking to diversify its power mix and boost the renewables capacity to at least 1.5 GW.