Cox Energy América has allocated 45 MW for solar power generation and consumption in Colombia. This allocation was made following an auction organized by the Colombian government through the Mining Energy Planning Unit (UPME).
Highly competitive environment
The auction process for this sale took place in a highly competitive environment, with a total of 843 connection requests for a cumulative capacity of 56.7 GW. Only 147 projects have been awarded for solar energy, with a total capacity of 5.8 GW.
Compliance with the Colombian government’s strategy
As part of the Colombian government’s strategy to ensure an equitable energy transition, the allocation process was based on reliability, flexibility, emission reductions, market restrictions and prices, as well as the impact on losses and the status of environmental licenses for each project submitted. Cox Energy America has fully met these criteria.
Investment of $45 million
The three assigned projects will have an investment of 45 million dollars, which will be carried out with Cox Energy America’s own resources, as well as with the support of financial and multilateral institutions. The development plan calls for the construction phase to begin in the first quarter of 2024.
Statement from the CEO of Cox Energy America
Cox Energy América CEO José Antonio Hurtado de Mendoza said Colombia has become a key country for the company’s expansion and growth strategy over the past year. He also reaffirmed the company’s commitment to continue to analyze and manage different business opportunities for the production and marketing of renewable energy in the country, and thus continue to advance in changing the energy matrix of the region.
