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International agency highlights Colombia’s largest energy investments by 2023 | Vitality

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International agency highlights Colombia’s largest energy investments by 2023 | Vitality

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Three countries in the region showed The trend of increasing investment in energy transition is particularly evident in Colombia. Collaboration with Chile and Brazil, particularly on transmission networks.

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He therefore pointed out International Energy Agency (IEA) In its report, World Energy Investment, it highlights that the region and the world are facing Despite challenges, resources allocated to new infrastructure investments have increased significantly vitality.

Investment in Latin America has almost doubled since 2021, Colombia, Chile and Brazil in particular will see spending double by 2023The report statesDespite these positive figures, the bulk of global energy investment is in China, accounting for 80% of capital. The agency said this reflects a positive trend, but There is still investment level in Latin America”worryingly” low.

The international entity stressed thatThe availability of the power grid is a bottleneck in the energy transition. After a period of relative stagnation in investment in this area, the trend has changed. By 2024, driven by Europe, the entity is expected to distribute $400 billionthe United States, China and parts of Latin America.

The situation in the area Brazil stands out with a record 10,500 km of network auctioned in 2023 Over 8 billion US dollars.

However, the international entity also stressed that Colombia and Panama in focus as interconnection plans progressThis would allow Central American countries to connect to South America through Colombia.

It is worth noting that an interconnection currently exists between Ecuador and Colombia, which could be extended to other Andean countries thanks to advanced dialogues to establish the Andean Electricity Market, which would also connect Peru and Chile.

Now Interconnection with Panama is under analysis Understand what the best option is to start that line because it may have underwater parts. However, that is part of what is being evaluated.

In fact, the company stated They failed to submit an environmental impact study for the underwater laying to the National Environmental Licensing Authority (Anla) This amount has been withdrawn due to the expansion of the reserved area.

The IEA report highlights that Latin America and the Caribbean are making great efforts to promote the development of renewable energy within the framework of energy transformation; however, The investment ratio between fossil energy and renewable energy is still less than half of the world average During 2023.

This has been 35% of energy comes from non-conventional renewable energy sources and the other 55% comes from hydrocarbons and fossil fuels. The remaining 10% is for final use.

The entity’s report highlighted the cases of Brazil and Colombia, in particular due to Promoting offshore wind energyIn fact, Colombia launched the first round of the technology last year and has made a series of modifications, some of which were announced in recent days.

he The Ministry of Mines and Energy said that through this competitive process, it expects to receive proposals with installed capacities between 1 and 3 GW. The estimated investment amount is close to US$1 billion.

A Results for companies that will be issued a temporary occupation permit Perform all processes prior to the construction and operation of these parks.

Juan Carlos Bedoya, director of the ministry’s regulatory affairs office, said the country aims to obtain about 7 gigawatts of energy from that source by 2040.

The IAEA highlighted these efforts, although it noted thatSome things need to change to achieve decarbonization goals and penetration of less emission-intensive technologies.

Efforts to reduce capital costs are critical and need to improve the economics of clean investments while reducing macroeconomic risks.”, the report concluded.

Daniela Morales Soler
Portfolio Reporter

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