Colombia could build its first offshore wind farm off the coast of the port of Barranquilla, following a deal signed this week in Houston.
Under the memorandum of understanding, Denmark’s Copenhagen Infrastructure Partners agreed with the city’s government to study a 350MW offshore wind farm which would require an investment of almost $1 billion.
Once approved by the corresponding environmental authorities, the two parties would then sign a new deal to implement the project.
“This project is going to produce jobs and an energy source which will be very important for the country,” said the mayor of Barranquilla, Jaime Pumarejo.
Pumarejo added that the partners would begin a feasibility study on the project in the coming months and that a final investment decision could be made between 2025 and 2027.
The deal follows the launch of the Colombian government’s roadmap for developing offshore wind energy.
“Today we have achieved a new milestone in Colombia’s energy transition,” highlighted Energy and Mines Minister Diego Mesa at the signing ceremony.
The study, backed by the World Bank, found that the country could develop up to 50GW of offshore wind capacity and attract an estimated $27 billion of investment, the minister said.
In preparation, the ministry of mines and energy and the country’s marine authority are working together to define a process for assigning offshore areas for the development of wind projects.
Colombia is in the process of ramping up onshore wind energy capacity, launching its second wind farm earlier this year and with four more currently in construction.
CIP manages funds worth $19 billion supporting renewable energy projects. The firm currently has no projects in South America but earlier this year signed a deal to develop a green hydrogen project in southern Chile powered by wind energy.
Barranquilla has distinguished itself through its aspirations to become Colombia’s first ‘BiodiverCity’, developing urban parks, promoting healthy lifestyle and installing more than 70,000 solar panels on public buildings.