INTIEAColombia · New auction of renewable energy towards the energy transitionPolicyIn force

New auction of renewable energy towards the energy transition

Colombia announced its plan of 3.3 trillion pesos investments by awarding 11 solar projects and providing about 4,800 green jobs through the new renewable auction held on 26th October 2021. 11 solar projects are supposed to meet their energy supply commitments by January 2023…

Last changed 4 years ago.

Extracted view for reading · Original for compliance evidence

Lifecycle

EffectiveJan 01, 2021
Last changeNov 18, 2022

Country / jurisdiction: Colombia · Year: 2021 · Status: In force · Level: National · Type: Voluntary

Colombia announced its plan of 3.3 trillion pesos investments by awarding 11 solar projects and providing about 4,800 green jobs through the new renewable auction held on 26th October 2021. 11 solar projects are supposed to meet their energy supply commitments by January 2023 accounting for a reduction of 465 thousand tonnes of CO2 per year, also contributing to reach the country’s emissions reduction target of -51% by 2030.

The 15-year contracts are engaged with nine generating companies and 53 marketers with a weighted average allocation price of 155.8 pesos per kWh. With this new installed capacity, the share of non-conventional renewable energy is expected to go from 0.2% in 2018 to more than 15% in 2023.

Official source: https://www.minenergia.gov.co/web/10180/1332?idNoticia=24314285

Source

https://www.iea.org/policies/14385

Canonical document at the regulator. Always cite this URL — not the Vantage detail page — in compliance evidence.

Related in International

INTEnergy Newsoilprice:oilprice-article-45056NewsIn force

The U.S. Army Just Called China’s Bluff in the Rare Earth War

Just recently, in a span of about six weeks, one impressive company was selected by the U.S. Army to build and operate rare earth processing facilities on an American military base…the first time the Army has ever done this. That same company closed $100 million in institutional financing, giving it a war chest of roughly $130 million. It was also formally added to the Russell 3000 Index. And it locked in MOU’s for feedstock agreements covering billions of tonnes of rare earth-bearing material from sources across Wyoming, Appalachia…

INTEnergy Newsoilprice:oilprice-article-45052NewsIn force

Oil Prices Ignore the Warning Signs in Physical Markets

Oil price movements since the start of March this year have become the topic of dozens of discussions. Many have been puzzled by futures prices and why they haven’t gone through the roof given the severe disruption in Middle Eastern supply. It appears the reason is sheer optimism and a bet on market adaptability. However, there is a problem with that. Adaptability has limits. Many commentators like to compare the current oil price—and supply—situation to 2022, when Russia’s incursion into eastern Ukraine prompted an actual…

INTEnergy Newsoilprice:oilprice-article-45054NewsIn force

The World’s Largest Sand Battery Is Now Online

Modern power grids require a constant, real-time balance between supply and consumption. Unfortunately, the integration of wind and solar energy makes power grids unstable due to the intermittent nature of renewable energy generation. To prevent localized grid blackouts or harmful voltage spikes, utilities are increasingly pairing renewables with battery storage and/or rapid-response natural gas plants to smooth out fluctuating supply. However, Finland has now come up with a rather eccentric method to store excess renewable energy and release it…

INTEnergy Newsrigzone:https://www.rigzone.com/news/wire/australia_to_study_first_new_oil_refinery_since_60s-28-jul-2026-184235-article/?rss=trueNewsIn force

Australia to Study First New Oil Refinery Since 60s

Prime Minister Anthony Albanese Tuesday announced a study for a new refinery in Karratha in Western Australia, backed by A$4 million ($2.8 million) of government funds.

INTEnergy Newsoilprice:oilprice-article-45055NewsIn force

Refined Fuels, Not Crude, Are Driving the Oil Market Crunch

Oil prices have just come off a fresh two-month high as the crude oil market has tumbled this week amid signals of de-escalation in the U.S.-Iran conflict. Despite the slump in crude prices and the extreme volatility in the past five months, the refined product market continues to tighten with refining margins at record highs because the supply of petroleum products is much tighter than crude supply. Refining margins held at record highs even as crude oil prices soared last week to $100 per barrel. That’s because global gasoline, diesel,…