The Colombian Ministry of Mines and Energy has awarded 995MW of solar PV and nearly 100MW of battery energy storage systems (BESS) in a clean energy procurement auction.
Held in two days, the auction awarded 270MW of solar PV and 100MW of BESS in the first day, and on the second day awarded a further 725MW of solar PV capacity.
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For the first time Colombia incorporated BESS in its auctions, which will allow the country to diversify its electricity mix, reduce its exposure to market volatility and have a greater supply of firm energy to respond to periods of high demand and extreme weather events such as El Niño.
The completion of the latest auction under the current government brings the country’s pipeline of renewables either operational, in construction or awarded to 11GW.
“With this historic auction, we not only secured the energy the country will need in the coming years; we also secured nearly 7GW ready to form the basis of the electricity supply for the next decade. The next government’s major challenge will be to ensure these projects become operational and provide firm energy for homes, industry, and the country’s development,” said Edwin Palma, minister of mines and energy.
Palma added that the market interest in BESS confirms the need to accelerate the development of energy storage projects in the country. Participants in the clean energy auction expressed interest in contracting more than 14,500MWh/day of BESS. This underscores the need for further tenders to strengthen the flexibility and stability of the national electricity system.
Earlier this year, the Colombian government also committed to investing up to US$1.7 billion in grid infrastructure in the Caribbean region. The investment is expected to unlock 6GW of new renewable energy generation capacity, according to the Ministry of Mines and Energy.
