Colombia - Electric Power and Renewable Energy Systems Colombia - Electric Power
Table 9: Electrical Power and Renewable Energy Systems Overview
| Year | 2017 | 2018 | 2019 estimated |
|---|---|---|---|
| Total Local Production | 255 | 266 | 290 |
| Total Exports | 200 | 211 | 235 |
| Total Imports | 1,010 | 1,016 | 1,040 |
| Imports from the U.S. | 223 | 250 | 300 |
| Total Market Size | 1,065 | 1,070 | 1,095 |
| Exchange Rates | COP 2,951 | COP 3,000 | COP 3,300 |
Units: USD millions
Source: World Trade Atlas; Industry Associations
Colombia’s installed electric power generation capacity currently stands at 17,319 MW, with hydro accounting for 64 percent, gas-and coal-fired power plants accounting for 29 percent, and the remaining seven percent from wind and cogeneration units. On February 28, 2019, the government held a reliability charge power auction and awarded commitments to 17 new facilities including, for the first time, wind (1,160 MW) and solar (238 MW) generation assets that will increase the system’s capacity to 21,329 MW beginning in December 2022.
After the approval of Law 1715 in 2014, the government maintained its efforts to promote private ventures in large scale, renewable energy projects after the implementation of new regulatory measures that support a suitable environment for unconventional renewable power projects to be competitive and increase the reliability of the power grid system, in addition to develop a sound smart meter infrastructure by 2030.
Leading Sub-Sectors:
- Power distribution and specialty transformers
- Switchgears
- Solar photovoltaic systems
- Wind power systems
- Industrial controls
- Steam, gas, and hydraulic turbines
- Smart meters and demand response systems
- Turbine generator sets
Opportunities
The outlook for the Colombian electricity sector is promising since the government is developing several new power generation projects to accommodate growing demand through 2031. The 2.4 GW Ituango hydro project that suffered from landslides and flooding of its powerhouse is undergoing cleanup activities and successfully participated in the latest relibility charge auction along with other projects totalling over four GW.
The government is currently preparing an upcoming long-term unconventional power auction planned for late September 2019 and hopes to attract new players with 12-year PPA contracts that industry expect will benefit regional power distributors and power consumers. These developments and reliability issues in selected regions open new business opportunities with the upcoming procurement process to implement a large-scale battery energy storage system in the Caribbean region which currently suffers from reliability and service quality issues.
Trade Events
FISE 2019 (International Fair on the Electric Sector)
December 4-6, 2019
Plaza Mayo Convention and Exhibition Center
Medellín, Colombia
Key Contacts
Commercial Assistant Norcia Ward
Email: Norcia.Ward-Marin@trade.gov
Tel: 57 1 275 2703
U.S. Trade and Development Agency (TDA)
Association of Power Generation Companies (ACOLGEN)
Energy and Natural Gas Regulatory Commission (CREG)
Grupo Energía de Bogota (EEB)
Empresas Públicas de Medellín (EPM)
InterColombia - Interconexión Eléctrica S.A. (ISA)
ISAGEN
Mining and Energy Planning Unit (UPME)
National Planning Department (DNP)
Ministry of Mines and Energy (MME) Prepared by our U.S. Embassies abroad. With its network of 108 offices across the United States and in more than 75 countries, the U.S. Commercial Service of the U.S. Department of Commerce utilizes its global presence and international marketing expertise to help U.S. companies sell their products and services worldwide. Locate the U.S. Commercial Service trade specialist in the U.S. nearest you by visiting http://export.gov/usoffices.