Colombia Is Betting Big On Wind And Solar For Colombia, 2021 is starting with the promise of a boom in renewable energy generation. On January 14th, the Ministry of Finance announced the offering of its first green bonds next July, aimed at funding environmental projects, notably renewable energy plants. A new round of auction allocating 5 GW of wind and solar capacity for long-term PPAs is also slated for 2021. And although renewable energy sources (excluding hydropower) currently represent only 1% of the country’s electricity mix, Ivan Duque s government is determined to make them the next energy frontier for the country.
Fossil fuels and hydropower have historically been the cornerstones of the Colombian energy landscape. Yet, several trends suggest that it might be time for a change. The oil sector has been a key driver for the Colombian economy, with a share amounting to over 40% in the primary energy supply. However, due to rampant corruption and civil unrest w
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Colombia Is Betting Big On Wind And Solar By Tatiana Serova - Jan 18, 2021, 2:00 PM CST
For Colombia, 2021 is starting with the promise of a boom in renewable energy generation. On January 14th, the Ministry of Finance announced the offering of its first green bonds next July, aimed at funding environmental projects, notably renewable energy plants. A new round of auction allocating 5 GW of wind and solar capacity for long-term PPAs is also slated for 2021. And although renewable energy sources (excluding hydropower) currently represent only 1% of the country’s electricity mix, Ivan Duque s government is determined to make them the next energy frontier for the country.
Accelerating renewables growth in South America
Out-Law Analysis | 11 Jan 2021 | 12:29 pm | 7 min. read
Ambitious plans to grow the use of renewable energy in South America, and link coronavirus economic recovery plans to green projects, make the market an attractive proposition for international energy companies and investors.
Climate change, and the challenges of Covid-19, has forced countries around the world to realise that more effort is needed to harness renewable energy. Latin American countries last year collectively pledged to meet a 70% renewable energy use target by 2030 – a total of 312 GW in power – while a number of governments, including those in Colombia and Chile, have committed to putting sustainability and decarbonisation at the heart of their countries Covid-19 recovery plans.