Colombia has granted contracts for wind and solar programs worth about $2.2 billion, the federal government stated on Tuesday, as part of its efforts to boost renewable energy generation in the Andean nation.
Although Colombia offers dream conditions for the production of solar and wind vitality due to high radiation daylight, three high-altitude Andean mountain ranges, and long stretches of shoreline, potential traders have said that main infrastructure development and group support are needed to maneuver projects ahead.
Seven companies won eight contracts – five for wind programs and three for photovoltaic, the energy ministry stated. The businesses can’t be named till they’re formally informed of the auction outcomes.
Twenty-two corporations will commercialize electricity from these tasks, the government stated, adding that these contracts will contribute to solar, wind, and biomass power generation capability of 2,200 megawatts by 2022.
President Ivan Duque’s office mentioned in a separate assertion that the deals could bring in the funding of around $2.2 billion, close to 7.5 trillion Colombian pesos.
An initial auction for renewables contracts closed with no results in February after the federal government stated the projects would have ended up in the hands of too few candidates because many bidders fell short of requirements.
A collective Latin American goal of 70% renewable energy use by 2030 is supposed to put Colombia and eight other nations in leadership roles ahead of December’s U.N. climate change summit in Chile, Suarez has stated.