Colombia set for wind power take-off with first renewables auction

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Colombia set for wind power take-off with first renewables auction

Industry could install 500MW of wind power per year, with wind supplying 20% of power demand within 10 years.

GWEC hosts seminar in Bogotá to prepare for country’s first long-term PPA auction

Bogotá, 27th November 2018: The Global Wind Energy Council (GWEC) is hosting its inaugural wind power seminar in Colombia today, gathering major international wind companies, energy authorities and regulators ahead of the first auction of long-term renewable energy PPAs in early 2019.

GWEC estimates that wind power in Colombia can become a mainstream energy source with the potential to add up to 500MW per year, amounting to around 20% of the country’s power demand in 10 years time.

Green growth is becoming a major priority for Colombia as it increasingly looks to new technologies to adapt to the challenges of climate change. The revision of its electric regulatory framework and regulations to take full advantage of non-conventional sources of renewable energy is evidence of this new pathway. Technologies such as wind power are seen as solutions to reduce emissions in accordance with Colombia’s commitments for the Paris Climate Agreement whilst also diversifying system risks and strengthening the country’s power generation mix.

GWEC will be supporting these ambitions during its seminar by providing information about the policies, markets and the technical contents needed to boost the development of the wind industry in Colombia.

Ben Backwell, CEO of GWEC, said:

“Colombia has a real opportunity to diversify its generation mix and take an important step forward in tackling climate change through this auction. Wind power meets the need for new power generation that is low-carbon, cost efficient and brings local economic benefits. It is a crucial time for the development of the industry and we are looking forward to working with the authorities, developers, manufacturers and other actors to ensure the true benefit of wind power can be realised in Colombia.”

Olga Peréz, Technical Secretary of the Comité Asesor de Comercializacion, said:

“Colombia is about to embark on an exciting path of integrating large-scale renewables such as wind and solar into the energy mix through the upcoming PPA auctions. This diversification will enable a cleaner and more resilient source of supply whilst also marking an important step forward in meeting Colombia’s commitments undertaken at the COP21 summit. The seminar today unites political and industry voices in setting out the necessary policy and market framework that will support Colombia’s growth plans.”

The event is taking place in partnership with the Association of Renewable Energies Colombia – SER Colombia, which will provide information on policy, market and technical content needed to boost the development of the wind industry.

ENDS

About GWEC

GWEC is a member-based organization that represents the entire wind energy sector. The members of GWEC represent over 1,500 companies, organizations and institutions in more than 80 countries, including manufacturers, developers, component suppliers, research institutes, national wind and renewables associations, electricity providers, finance and insurance companies. See https://gwec.net/

For more information, please contact:

Olivia Thornton

H+K Strategies

[email protected]

T +44207 413 3711

Legal disclaimer This document contains forward-looking statements. These statements are based on the current views, expectations, assumptions and information of the management, and are based on information currently available to the management. Forward-looking statements shall not be construed as a promise for the materialisation of future results and developments and involve known and unknown risks and uncertainties. Actual results, performance or events may differ materially from those described in such statements due to, among other things, changes in the general economic and competitive environment, risks associated with capital markets, currency exchange rate fluctuations, changes in international and national laws and regulations, in particular with respect to tax laws and regulations, affecting the Company, and other factors. Neither the Company nor any of its affiliates assumes any obligations to update any forward-looking statements.



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