Colombia's long-term electricity supply auction has finalized its list of winners. Four sellers and six generation plants will support the 995 MW of solar generation and 100 MW of storage (4564 MWh/day awarded) in products 2 and 3, the only ones that concluded with allocations.
The list of vendors includes Bosques Solares de los Llanos 8, Empresas Públicas de Medellín (EPM), Celsia Colombia, and Enel Colombia . These companies will participate through conventional solar projects and photovoltaic power plants, along with energy storage systems.
The results show a strong concentration of assets among a few players. Six assets were selected to fulfill 15-year contractual commitments , with obligations beginning on January 1, 2030, according to the closing report published by the Colombian Mercantile Exchange.
On the buyer side, the awards reached Empresa de Energía de Pereira, Empresa de Energía del Quindío, Central Hidroeléctrica de Caldas, Celsia Colombia, Compañía de Electricidad de Tuluá and Enel Colombia .
The transaction reveals a peculiarity: Celsia and Enel appear both among the sellers and the awarded buyers . However, the official report does not break down the counterparties of each contract nor does it allow for determining which generator will individually supply each marketer.
The map of winners also shows continuity with respect to the 2021 renewable energy auction. In that call, Celsia, Enel Green Power Colombia, and Empresas Públicas de Medellín had already been awarded contracts within a group of nine generators and 11 projects that assumed obligations for 796.3 MW. In the new tender, the three companies are again among the selected sellers, now along with Bosques Solares de los Llanos 8.
Two battery-based projects capture the highest-priced product
Product 3 brought together contracts for two time blocks totaling 270 MW of solar plants plus 100 MW of batteries. The first block runs from 8:00 AM to 6:00 PM, while the second covers the period from 6:00 PM to 10:00 PM.
In this category , Bosques Solares de los Llanos 8 and Parque Solar Andrómeda were awarded, the latter being associated with Celsia. Both assets combine photovoltaic solar technology with batteries, making them the only projects in the final results that incorporate storage.
The allocation reached 390 MWh/day , with a weighted average price of $315.87 per kWh . The buyers were Empresa de Energía de Pereira and Empresa de Energía del Quindío.
The contracted volume represents just over half of the 747 MWh/day offered for this product. In contrast, the demand reached 9,421 MWh/day , more than 12 times the energy offered and about 24 times the amount ultimately allocated.
This difference makes Product 3 one of the most relevant data points in the process. The high purchase intent did not find an equivalent generation supply capable of simultaneously covering the solar block and the hours after sunset.
The price also reflects the differential value of the extended supply. Product 3 closed at $69.74 per kWh above Product 2 , a gap of approximately 28% compared to the daytime photovoltaic-only contract.
According to Celsia executives who spoke to this publication, the company managed to commit around 25% of the portfolio it had prepared for the auction , so it still has available capacity to negotiate through other mechanisms.
Enel and EPM place four plants in the daytime solar block
The largest volume was concentrated in Product 2 , created to contract photovoltaic generation between 06:00 and 18:00. This category awarded 725 MW of solar or 4174 MWh-day , equivalent to more than 91% of all the energy allocated in the mechanism.
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The weighted average price was $246.13 per kWh , below the value reached by the alternative that includes deliveries between 6:00 p.m. and 10:00 p.m.
The selected projects were Bosques Solares de los Llanos 8, Parque Solar Valledupar de 100 MW, Atlántico Photovoltaic, Parque Solar Andes and Parque Solar Yariguíes .
Bosques Solares de los Llanos 8 secured contracts in two categories. The same asset was awarded in Product 3, along with batteries, and also in Product 2 for daytime photovoltaic supply.
Enel Colombia placed two projects: the 100 MW Valledupar Solar Park and Atlántico Photovoltaic, the latter along with its 500 kV evacuation line.
For its part, EPM obtained allocations with Parque Solar Andes and Parque Solar Yariguíes , which makes both companies the sellers with the largest number of assets identified within Product 2.
The supply submitted for this category amounted to 5047 MWh/day , while demand reached 8274 MWh/day. The process concluded with approximately 83% of the supply being contracted, while slightly more than 50% of the quantities requested by buyers were sold.
The acquiring companies were Central Hidroeléctrica de Caldas, Celsia Colombia, Compañía de Electricidad de Tuluá, and Enel Colombia. However, the closing report does not specify how much each agent purchased or what proportion of the allocation corresponds to each power plant.
One product was not delivered and another ended without contracts
The outcome of the six awarded projects contrasts sharply with the other two components initially envisioned by the process. Product 1 didn't even reach the competitive stage due to insufficient participants.
The Ministry of Mines and Energy instructed the Colombian Mercantile Exchange not to execute that segment after verifying that the three competitors required to guarantee competition and plurality were not present.
Product 4 , designed to exclusively cover the 6:00 PM to 10:00 PM time slot, ended without any contracts despite registering 558 MWh/day offered and 5,990 MWh/day demanded . According to information provided to the portal by winning bidders, one of the generators withdrew, and the product lacked the minimum of three participants required to proceed with the award .
Thus, the night block saw demand more than ten times greater than the available supply. Even with this buying interest, the bids did not result in an allocation compatible with the mechanism's rules and reserve prices.
In aggregate terms, sellers offered 6,352 MWh/day across the three products executed, compared to a demand of 23,685 MWh/day . Only 4,564 MWh/day were awarded, approximately 19% of the quantities requested by buyers.
The auction thus reveals two distinct signals. On the one hand, six projects secured long-term contracts, and batteries were supplied via two hybrid power plants. On the other hand, the gap between purchasing interest and available supply was particularly pronounced in the slots with overnight delivery.
The final map also defines who will take on the challenge of reaching 2030 with the available assets. Bosques Solares de los Llanos 8, Celsia, Enel, and EPM will concentrate the execution of the awarded portfolio , while six buyers will have to convert the auction results into effective long-term supply contracts.
The execution of awarded contracts, the development of storage, competition in upcoming calls for tenders, and the decisions of the new administration will be part of the debate at Future Energy Summit Colombia , which will take place on October 1 in Bogotá .
The meeting will bring together public and private actors to address a central issue for the electricity system: Colombia has already contracted 995 MW of solar power and 100 MW of battery storage, but the final outcome will depend on that capacity securing financing, connection, and becoming operational.