Colombia allocates 4.4GW of PV in the latest energy auction

Recently, the Colombian Ministry of Mines and Energy has allocated 4,441 MW of photovoltaic capacity in a renewable energy auction, allocating PV capacity for approximately 99% of the total allocated capacity. The auction ended with a final price of $0.0182/kWh, and the finalized projects must supply electricity to the Colombian grid between December 1, 2027 and November 30, 2028. The allocated generation will be provided by 80 power plants, 27 of which are already under development. Six power plants are currently under construction and 47 are already in operation.

According to UPME, the total capacity of registered photovoltaic (PV) projects was 11.127 GW at the end of January 2024. Most of these PV projects are scheduled to operate between 2024 and 2025, with completion in 2027 at the latest. Currently, most of the projects are in the construction or preparation phase, especially those auctioned in the renewable energy auctions held in 2019 and 2021, and are facing serious delays. Most of these projects will not be delivered within the expected operational deadlines, resulting in lower-than-expected actual installed PV capacity.

Colombia has made significant progress in the PV sector, but still faces a number of challenges. First, delays and extensions in the project construction process need to be addressed to ensure that projects are on schedule and delivered in a timely manner. Second, for registered PV projects with a total capacity of more than 11GW, there is a need to strengthen management and supervision to ensure that projects are completed on schedule and maximize benefits. There is also a need to continuously promote policy support and regulatory measures to provide a stable environment and support for PV power projects.

Seraphim is a Tier 1 solar module manufacturer, listed by BNEF. We research, develop, produce, and sell solar PV products since 2011.

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