Colombia has awarded renewables capacity to five wind farms and three solar plants totalling 1298MW in the South American country’s energy auction.
The average price was 95.65 Colombian pesos a kilowatt-hour, which is the equivalent of about €0.025, and about 50 Colombian pesos below the current average cost of generation in bilateral contracts, the ministry of mines and energy said.
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Energy Minister Maria Fernanda Suarez said the auction results marked an “energy milestone” for the country.
“This is the beginning of a revolution because it allows us to diversify our electricity matrix,” she said.