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Wind, solar awarded OEFs in Colombia's reliability charge auction

Image by: Green Energy Markets (www.greenmarkets.com.au).

March 4 (Renewables Now) – Colombia awarded on Thursday firm energy obligations (OEFs) to 1,398 MW of wind and solar projects in the latest reliability charge auction that aimed to ensure a steady electricity supply from December 1, 2022, to November 30, 2023.

Six wind power projects totalling 1,160 MW and 238 MW corresponding to two solar projects made up 6% of the total awarded in the auction, Colombia’s energy ministry informed on Friday.

The reliability charge auction awarded OEFs to generation totalling 250.55 GWh per day for a closing price of USD 15.1/MWh (EUR 13.3), an 11% decrease from the price obtained at the previous auction, the energy ministry said.

New electricity generation projects and those that add firm energy to the system were awarded 37.37 GWh per day.

The awarded projects will increase the installed capacity by 23%, or 4,010 MW, distributed between 1,240 MW of thermal, 1,372 MW of hydropower, 1,160 MW of wind and 238 MW of solar, according to the auction administrator XM Compania Expertos en Mercados.

Colombia’s energy planning unit UPME projects that the maximum demand would reach 226.84 GWh/day in 2022-2023, the ministry said.  

(USD1.0 = EUR 0.88)

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Sladjana is the newest addition to the Renewables Now team. She has significant experience as a Spain-focused business news reporter and is now diving deeper into the global renewable energy industry.

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