Colombia’s energy authorities said 27 companies have registered to bid in its rescheduled renewables tender at the end of October, delivering on the government’s ambition to increase the number taking part after an abortive first process earlier this year.
Global players such as Italy’s Enel, Germany’s Elawan, Spain’s Acciona Energía, France’s EDF Renewables and China’s Canadian Solar and Trina Solar are among the companies shortlisted.
Fifteen developers signed up for a first failed tender in February. Even though the 1.5GW of projects entered then represented three times the capacity the government wanted to contract, the tender was declared void since none of the bidders met antitrust and competition criteria.
The government subsequently changed the tender rules saying it wanted more bidders, with modifications including hourly contracts and longer PPAs.
Colombia, with a $330bn GDP, is the last large economy in Latin America that is yet to open up its market to renewable energy investments. With 20GW of potential for both solar and wind, the tender is expected to open up a 500MW a year market.
The government wants to diversify its 17GW hydro-thermal generation fleet to avoid increasing instability in power supply due to droughts and fossil fuel price volatility.