The First Auction of Non-Conventional Renewable Energy in Colombia: Results and Perspectives

Authors

  • Ricardo Moreno Universidad Autónoma de Occidente (Autonomous University of the West)
  • Diego Larrahondo

Abstract

In Colombia, as a historic milestone, the first long-term auction of non-conventional renewable sources was held in 2019, with the aim of the National Government to take a major step in the energy transition policy. The auction organized by the Ministerio de Minas y Energía (MME) defined the objectives, rules and type of auction. The results of the first auction indicate that eight project were selected by a pay-as-bid auction scheme, five wind and three solar projects will imitate operations at 2021accounting for 1298.8 MW. This paper presents a review of auction in various countries of South America in order to compare final prices for technology. Finally, this paper discusses perspectives for the energy sector in Colombia according to the implications of this auction.  Keywords: Non-conventional Renewable Energy, Energy Policy, Auction Mechanism. JEL Classifications: O13, Q28, Q42, Q48DOI: https://doi.org/10.32479/ijeep.10010

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Author Biography

Ricardo Moreno, Universidad Autónoma de Occidente (Autonomous University of the West)

Ricardo Moreno-Chuquen is Professor of Electrical Engineering at the Universidad Autonoma de Occidente (Autonomous University of the West). His research and teaching activities are in the area of power system analysis, economics and operations, utility regulatory policy and industry reestructuring. He was a Visiting Researcher at the University of Illinois at Urbana-Champaign during the academic year 2010 - 2011. Ricardo Moreno earned his undergraduate degree at Universidad de Los Andes and he did his graduate studies (M.Sc. and PhD) at Universidad de Los Andes, Colombia. 

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Published

2020-12-01

How to Cite

Moreno, R., & Larrahondo, D. (2020). The First Auction of Non-Conventional Renewable Energy in Colombia: Results and Perspectives. International Journal of Energy Economics and Policy, 11(1), 528–535. Retrieved from https://econjournals.com/index.php/ijeep/article/view/10010

Issue

Vol. 11 No. 1 (2021)

Section

Articles

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