Project selected in the auctions will be granted a 15-year PPA and will have to begin delivering power in December 2022.
The obligation will be applied annually from 2022. Colombian power utilities will have to procure the clean energy concerned under long-term contracts lasting at least a decade.
In addition to the auction, scheduled for the first quarter of 2021, the Latin American country is also defining a green hydrogen roadmap in collaboration with Chile.
The procedures to secure income tax deductions, value-added tax exclusions, customs duty exemptions, and accelerated depreciation rates for renewable projects has been shortened to 45 days.
The Colombian government has revealed more details of the renewable energy procurement exercise finalized on Monday. Chinese manufacturer Trina was the bidder behind all three successful solar projects in the auction.
Three solar projects and five wind facilities were contracted in the procurement exercise. The auction’s final average electricity price was COP95/kWh, with a maximum bid of COP110.
The obligation will be applied annually from 2022. The clean electricity required will have to be bought through power purchase contracts of at least 10 years’ duration.
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