Colombian renewables auction closes successfully

Colombia on Tuesday successfully granted long-term off-take contracts to 1,298 MW of new wind and solar capacity in the second attempt to hold a renewable energy auction.

In total, bids for five wind and three solar projects from seven generators were paired with 22 power retailers, the Colombian mining and energy ministry announced without naming the winners.

The auction concluded with a weighted average price of COP 95.65/kWh (USD 0.028/kWh/EUR 0.025/kWh) for 10,186 MWh per day, representing a close to COP-50 discount over the average cost of generation appearing in current power purchase agreements (PPAs), the ministry noted.

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