October 17, 2019
Colombia’s renewable energy auction program suffered a setback in February when it failed to persuade electricity buyers to participate. Since then the Ministry of Mines and Energy has made some changes to the auction process for power purchase agreements (PPAs). Even though some critics say the changes don’t go far enough to make the auction more popular, the next auction has already been scheduled.
The first auction, which matched bids from power buyers and project developers, was cancelled because it didn’t attract enough buyers, and the Colombian Commission for the Regulation of Energy and Gas (CREG) was worried that awarding any contract with an insufficient number of PPA buyers wouldn’
Colombia made some changes to its renewables auction program after the first round failed. They don’t go as far as developers would like. But how power buyers respond will be more important to its success