Colombia enacts open renewables policy

BOGOTá, January 1, 2024 – Colombia has enacted legislation to foster development of renewable energy projects in local, rural and minority communities, Reuters reported on Tuesday.

Under the new framework, communities such as rural farmers and indigenous and Afro-Colombian communities can build renewable energy assets to support their own demand and have the option to export surplus power or supply it to the national grid.

As of now around 70% of the country’s power generation is derived from hydroelectric facilities, with less than 1% coming from renewable energy sources.

Although more than 50 renewables developments have been planned in Colombia since 2019, none have yet become operational.

In October 2023, Colombia announced its first offshore wind energy auction would begin receiving bids in August 2024.

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