Enel Colombia, the Colombian subsidiary of Italian renewable energy group Enel Green Power, has begun commercial operations of a 370MW solar PV project.
Located in the northern department of Atlantic, Enel said the Guayepo I and II project is the country’s largest operational PV site. It overtakes another PV plant from Enel Colombia, La Loma, which has an operational capacity of 240MW and started commercial operations earlier this year.
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More than 820,000 solar panels were installed at the project.
Earlier this year, Enel Group received a US$300 million loan from the European Investment Bank to support the development of the project as well as support its distribution business in Colombia.
In total, the company has four solar PV projects operational in Colombia, with a combined capacity of 700MW. These four projects represent nearly a third of the total PV capacity in Colombia, said Antonio Crisol, general manager at Enel Colombia.
Moreover, Enel was awarded 1.2GW of solar PV in a 4.4GW Colombian renewable energy capacity auction held at the beginning of 2024. Solar accounted for 99% of the capacity awarded, a quarter of which went to Enel in six projects. Solar developer Verano Energy was also awarded capacity, with the 270MW Las Palmeras project.
The falling levelised cost of electricity (LCOE) for solar in several Latin American countries including Colombia, drawn developers to build solar PV projects (Premium access) in the region and increased uptake for power purchase agreements.
