Bids for colombian energy storage project opened

Where is a lithium-ion battery project located in Colombia?

Located in the city of Barranquilla in northern Colombia, this project will consist of a 45 MWh lithium-ion battery energy storage system and is expected to reach commercial operation by June 2023. The project is granted with a 15-year revenue structure with the Colombian government and is indexed to the country's inflation or producer price index.

Did Canadian Solar win the first Pure Storage tender in Colombia?

Dr. Shawn Qu, Chairman and CEO of Canadian Solar, commented, "We are very proud to have won this project in the first pure storage tender in Colombia. This is also our first energy storage project in the country and the Latin America region.

How did Colombia win a mining project?

The project was awarded in the public tender launched by Colombia's Ministry of Energy and Mines, via its affiliate UPME, the Mining and Energy Planning Unit.

How much does solar PV cost in Colombia?

At USD 28.40/megawatt hour (MWh) for solar PV and USD 27.70/MWh for wind, Colombia's weighted average prices were significantly lower than the global average for auctions in 2018 – solar PV was half the global average of USD 56/MWh, while wind prices were 42% lower than the global average of USD 48/MWh.

Why is Colombia launching a power auction?

They now provide Colombia with opportunities to diversify power supply and increase the resilience of the power sector, while also fostering investor confidence. The first auction, in February 2019, assigned bids between buyers and sellers, but did not award any contracts.

Why are electricity prices so low in Colombia?

The low prices may be attributed to Colombia's rich wind and solar resources; the availability of different fiscal incentives for renewables; and growing investor confidence in auctions and their enabling frameworks.