We all know that Colombia and the rest of the Andean region has long-term potential, but where do the real commercial opportunities lie and how do you identify the key stakeholders across these markets?
To help you understand what’s actually happening on the ground and establish the next steps in your business development strategy, we have organised ANDREC Week, a 5 day renewable energy journey through the Andes; visiting Peru and Colombia (the sleeping giant!) as well as providing insights into Ecuador and Bolivia.
We know the burning questions you need to answer are:
- Colombia – When will wind and solar truly take off?
- Peru – am I too late?
- Ecuador / Bolivia – is there a large enough opportunity?
Green Thinking has created a unique program gathering the region’s most important developers, government ministries, investors, financiers, and manufacturers who know the real situation in Colombia, Peru, Ecuador, and Bolivia. Coupled with some of the latest market knowledge and intimate networking, this week will provide everything you need to determine your commercial strategy in Colombia and the Andean region.
Why the Andes?
The Andes is an up and coming region for the development of renewable energy, with great potential for solar and wind development. Hydropower has dominated the landscape for renewable electricity generation, but recent droughts and a growing government drive for diversification have seen solar and wind technologies surface as potential growth markets in the region.
- Peru recently completed its third renewables auctions since 2009, achieving record breaking low pricing for wind and solar, and attracting over $1 billion in investment
- Peru set the record for the cheapest prices ever for solar energy in 2015
- Peru has an estimated wind potential of 22GW (with 142MW already installed)
- The latest energy auctionsin February 2016 saw the successful tendering of 185MW of solar PV and 162MW of wind projects w/20 year PPAs
- Bolivia is targeting a goal of 549 MW of non-conventional renewable energy from solar, wind, geothermal and biomass by 2020
- Bolivia already has a series of projects under development at various stages of approvals
- The government has indicated it will guarantee up to 90% of the investments made in Bolivia in renewable energy projects
- Bolivia is in need of off-grid energy development, especially for rural electrification and isolated systems
- Ecuador has a 5.4GW grid with the system already unbundled, no barriers to private sector participation and a functioning competitive wholesale market.
- Ecuador has good solar irradiation all year round (4,600 – 5,700 Wh/m2) and around 500MW of good quality accessible wind sites
- Much like Colombia, Ecuador presents a promising opportunity for RE development
- Colombia passed an Energy Law in 2014 promoting the diversification of renewable energy (provides support to investors through tax incentives)
- Recent droughts have sharpened the country’s focus on energy security, with a view to increasing the share of solar and wind power
- In Feb 2016 the Ministry of Mines and Energy announced it would invest $700m to develop new wind power capacity in the La Guajira region
- La Guajira has an estimated 21GW of wind capacity, making it one of only two regions in Latin America to winds of this speed
- Colombia has potential for large scale solar generation in the Orinoco and San Andrés areas in the northern part of the country
- 4 power firms have committed to installing 3.1 GW of wind generation capacity in Colombia, expected to come online in 2018-19
- Projects under 20 MW in size have priority to gain access to the grid and the spot price is roughly US$100/megawatt-hour