Colombia’s Comision de Regulacion de Energia y Gas (CREG) has authorized purchase of power from six hydroelectric projects totaling 2,991 MW.
CREG allocated Obligations of Firm Energy to developers of the six projects June 16, eliminating the need for a proposed power auction June 20.
Of 21 projects eligible for the auction, nine submitted qualifications, of which the six projects qualified, filling Colombia’s need for 6,281 gigawatt-hours annually. The projects are to go on line between December 2013 and November 2018.
Projects chosen, their developers, and on-line years include:
o 60-MW Cucuana, Empresas de Energia del Pacifico SA, 2014;
o 135.2-MW Miel 2, Promotora Miel 2, 2014;
o 395-MW El Quimbo, Emgesa, 2014 (HNN 2/8/07);
o 400-MW Porce 4, Empresas Publicas de Medellin, 2015 (HNN 3/26/07);
o 800-MW Sogamoso, Isagen SA, 2014 (HNN 6/4/08); and
o 1,200-MW Pescadero Ituango (previously identified as 2,688 MW), Hidroelectrica Pescadero Ituango, 2018. (HNN 12/7/07)
The developers are to receive 20-year power contracts priced at US$14 per megawatt-hour.
Colombia President Alvaro Uribe Velez said the power projects were able to advance due to ï¿½Democratic Security,ï¿½ investor confidence, and incentives. The president hailed the fact the hydroelectric projects would be developed without incurring debt by the national budget.