Sunita Somvanshi
Colombia’s first offshore wind energy auction has pulled in proposals for 69 offshore areas from companies across Belgium, Britain, China, Spain, and Colombia itself, according to the country’s National Hydrocarbons Agency (ANH).
The auction marks a key step in President Gustavo Petro’s strategy to diversify Colombia’s energy sector and reduce its dependence on fossil fuels. Colombia’s state-owned oil company Ecopetrol is among the bidders, showing the country’s internal pivot toward renewables.
“Once the suitability of the proposals is verified, the approved companies will be able to make offers on areas of interest, with the option of being awarded a maximum of two projects,” the ANH stated.
Each project requires a minimum installed capacity of 200 megawatts, with the government aiming for a total of at least 1 gigawatt from this auction. The larger plan targets 7 gigawatts of offshore wind capacity by 2040.
Financial Weight and Timeline
These offshore wind developments represent a potential $27 billion investment opportunity in Colombia’s energy sector. Companies can submit their deposits for offers through the end of May, though the exact award date hasn’t been announced yet.
The global context looks promising—offshore wind capacity additions are expected to reach 19 gigawatts by 2025, showing growing momentum in this sector worldwide.
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Historical Context
This auction builds on Colombia’s 2022 offshore wind development roadmap, which spelled out the country’s long-term strategy for wind power. The auction has attracted experienced international firms including BlueFloat Energy from Spain and Copenhagen Infrastructure Partners from Denmark.
Regulatory Framework and Challenges
Colombia has been building its renewable energy regulatory foundation through laws like the Renewable Energy Law 1715 and the First Round for assignment of Temporary Occupation Permits for maritime areas.
The offshore wind sector still faces hurdles including:
- Need for improved regulatory frameworks
- Port infrastructure development
- Construction of transmission lines
- Specialized vessel requirements
Energy Minister Andrés Camacho has positioned offshore wind energy as central to Colombia’s energy transition plan, while experts like Petra Manuel, Senior Offshore Wind Analyst at Rystad Energy, note the importance of government support for overcoming initial market challenges.
Economic and Environmental Benefits
Beyond diversifying Colombia’s energy sources, these offshore wind projects promise job creation in coastal areas, particularly in construction, maintenance, and operations. They also aim to reduce greenhouse gas emissions by replacing coal and oil-based electricity generation.
The Caribbean coast has been highlighted by industry experts as having particular potential as a wind power hub for the country.
