- Enel Colombia secures firm energy obligations in solar contracts at Colombia’s recent auction.
- The auction awards contracts to six solar projects, including the Fundacion and Guayepo III solar farms, set to commence electricity delivery in December 2027.
Enel Colombia, an essential Latin American utility, secured firm energy obligations in solar contracts at Colombia’s recent reliability charge auction. This reinforces its commitment to supply 856 GWh of electricity annually from upcoming solar installations.
The Bogota-based Enel Colombia announced that its six solar projects won the privilege of furnishing electricity starting December 2027. These projects include the Fundacion solar farm in Magdalena and the Guayepo III solar farm in Atlantico.
The Fundacion solar farm also received a power purchase agreement (PPA) in Colombia’s October 2021 renewable energy auction. It is expected to begin commercial operations in the first half of 2024.
Preparations for construction at the Guayepo III solar farm in Atlantico are currently underway. The auction assigns energy obligations through open-ended funds (OEFs) to 4,441 MW of solar capacity and 48 MW from thermal power plants.
According to Colombian grid operator XM, the auction concluded with a closing price of USD 18.2 (EUR 16.90) per MWh.
OEFs require power generators to ensure consistent provision of firm energy to mitigate potential electricity shortages during critical periods like El Nino-induced droughts. The latest auction to boost Colombia’s energy resilience begins on December 1, 2027, and ends on November 30, 2028.