Mainstream Renewable Power has commercialised its first development in Colombia by signing a deal to supply 180 gigawatt-hours of electricity a year from the 100MW Andromeda solar farm in a private power purchase agreement (PPA).
The plant, located in Toluviejo, is to supply the electricity to Air-e, a Colombian energy distribution company.
The PPA has a tenure of 15 years, and will come into effect from 2024, once the approximately 195,000 solar panels are installed and new transmission infrastructure is in place.
Mainstream chief executive Mary Quaney said: “Mainstream is proud to announce our first major milestone in Colombia, a country with huge potential to transition quickly to renewable energy.
“We have been at the leading edge of developing clean energy around across the world, from Chile to South Africa, and our work in Colombia is a key example of how Mainstream intends to accelerate its growth trajectory with the support of Aker Horizons and our new long-term strategic investor Mitsui & Co.
“We look forward to building on this significant achievement in Colombia and enabling it to decarbonise through the large-scale deployment of renewables – with hundreds of megawatts already in the pipeline, we are well on our way.”
Colombian Vice Minister for Mines and Energy Miguel Lotero Robledo said: “The entry of energy from non-conventional renewable sources to the electricity grid of La Guajira, Atlántico and Magdalena thanks to this Air-e auction ratifies the country’s commitment to an environmentally friendly energy transition, while adding reliability to the system.”
Air-e general manager Jhon Jairo Toro said: “This new mechanism of auctions and long-term contracting will enable the construction of solar projects in the departments of Bolivar, Magdalena, Sucre, Valle del Cauca and Tolima.
“This auction represents an important milestone for the company, its customers and the country because we want to promote the production of energy in an environmentally friendly manner. We also seek competitive prices for the benefit of our customers.”