January 28 (Renewables Now) – Colombia's national mining and energy planning unit UPME published last Friday the updated timetable of the country’s first electricity auction that will award 12-year contracts for the annual supply of 1.183 TWh of renewable power in total.
Seeking to attract more bidders, the UPME extended the deadline for the submission of legal, financial and technical aspects of the bids, the so-called Envelope 1, to January 31 by 04:00 p.m. local time. The previous submission date was January 28.
The bidders will also have to present financial guarantees that prove their commitment to the auction process on February 18.
The auction will be held on February 26 as scheduled.
Colombia’s Mines and Energy Minister, Maria Fernanda Suarez, told local media that the February auction was to be the first one in a series. The second auction will take place in the second half of 2019.