Industry head: Colombia will see a jump in renewable energy by 2025, thanks to new players.

Alexandra Hernandez (President of the Colombian Renewable Energy Association, SER Colombia) said that Colombia will end 2025 with 2,685 Megawatts (MW), up 49% compared to 1,800 MW by the end of 2024. This is due to new project commissions as well as some regulatory changes.

In the past year, 27 large and medium-sized projects, mainly solar, were completed, as well as three wind projects, and one biomass facility, totaling $2.9 billion in investment. The new capacity accounts for 13%, or more than double the 2.5% of total electricity generated in Colombia at the end 2023.

Atlas Renewable Energy is one of the companies that completed projects. Others include Ecoener and Grenergy.

Hernandez said that their involvement "demonstrates that Colombia remains a feasible destination for energy investments when there are clearly defined rules."

This year, the capacity of small-scale self-generation systems has also doubled to 1,200 MW. These include mini-solar farms and installations at homes and businesses.

Unergy, a Colombian company, raised $4 million as part of an investment round. It also secured $80 million commitments from the European Climate Fund to build 80 micro solar farms.

Hernandez emphasized the need to lower regulatory hurdles and accelerate financial closures. He also urged energy storage. It takes three to six year for renewable projects to be operational. About 70% of this time is spent on administrative processes. The main challenges are the resistance of indigenous communities and regulatory delays.

As part of the President Gustavo Petro plan to reduce dependency on fossil fuels, Colombia is looking to expand solar energy. (Reporting and editing by Leslie Adler; Nelson Bocanegra)

(source: Reuters)