Colombian authorities abandoned the country’s long-term energy auction in a public ceremony on 26 February as requirements for competition were not fulfilled.
Minister for Mining and Energy María Fernanda Suárez and Ricardo Ramírez, director at the agency of planning for energy and mining (UPME), said that authorities decided to abandon the process due to a lack of sufficient competition, which meant they could not ensure savings in the final price for consumers.
The authorities declared their intentions to call a second tender by 2Q19.
UPME received eight bids from the Colombian subsidiaries of international power developers Canadian Solar, Enel Green Power, SolarPack and Trina Solar as well as local companies Empresa de Energía del Pacífico (EPSA) and Isagen.
Spanish company Elecnor participated with its Guajira Eólica I wind project, and local holding company Grupo Valorem did so through SPV Villanueva.
Eight local utilities had qualified to serve as offtakers for the auction.
Grupo Valorem was founded by Colombian entrepreneur Julio Mario Santo Domingo and belongs to the Santo Domingo family.