Renewable energy auctions in Colombia. Context, desing and results

International Renewable Energy Agency (IRENA)
International Renewable Energy Agency (USAID)

2021

333.794/I66re

978-92-9260-313-7

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Desing of renewable energy auctions. Auction demand. Qualification requirements and documentation. Winner selection and contract award process. Risk allocation and remuneration of sellers. Renewable energy auction results. Factors affecting prices. Country-specific conditions. Investors confidence and learning curve. Policies supporting renewables.

Renewable energy auctions are, by far, Latin America’s most widely used policy instrument in the promotion of renewable electricity. Brazil, Chile, Peru and Uruguay were early adopters, while Argentina, Chile and Mexico have innovated auction designs more recently. In 2019, Colombia became the latest adopter, driven by the success of auctions in the region. Renewable energy auctions were designed to complement Colombia’s existing electricity market mechanisms, namely the spot market, bilateral contracts and firm energy auctions. Colombia has had experience with the latter since 2008.

Recursos Energéticos Renovables; Subastas de Energía; Colombia;