Colombia’s first-ever renewable auction is to be held eight months after anti-trust concerns forced its postponement, the government has decided.
The tender that was called off in February due to low participation of buyers has been rescheduled to take place before 31 October 2019, the Energy Ministry announced.
The auction – open to wind, solar, geothermal, small hydro and wave energy – will match renewable projects of 5MW or more with potential buyers, with contracts running for 15 years.
Energy minister María Fernanda Suárez said the tender will follow a paid-as-contracted approach: buyers will compensate generators for the power they have acquired, whether it is used or not.
In return, renewable developers will commit to providing fixed volumes of energy in three possible seven-, ten-hour blocks, with an obligation to start supplying by 1 January 2022.