Developers have until 27 August to register as participants in Colombia’s third renewable energy tender, grid operator XM has confirmed. It has also published definitive rules for the auction.
Once registered, participants will have until 1 October to present their bid bonds and until 26 October to present their offers. Contracts will be awarded the same day with contracts being signed by 20 December.
“This third tender will allow the further consolidation of the energy transition which has made Colombia an international leader in the incorporation of non-conventional renewable energy sources,” said Mines and Energy Minister Diego Mesa.
Under the double auction system, both suppliers and buyers will present offers for 15-year power purchase agreements which come into force from 1 January, 2023. These suppliers and buyers are then matched up.
Grid operator XM could not say how much capacity would be awarded, as this will depend on the contracts signed through the auction.
The publication of the tender documents follows a public consultation period ending 23 July. during which 31 interested parties presented a total of 272 observations on the draft rules.
Following Colombia’s first two renewable energy tenders, the country is expected to add around 1.7 GW of wind energy capacity, largely in the north-eastern department of La Guajira, by the end of next year.