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The Colombian Ministry of Energy and Mines has introduced a series of decrees establishing a framework for the contracting of power generation projects, including those using photovoltaic and wind resources.

Resolution No. 40141 amends Resolution No. 40590. It modifies the previous Resolution MME 40590 in relation to long-term energy contracts for power generation projects in Colombia. It introduces several key adjustments, such as guarantees requirements and commercial Operation Guarantees. Overall, the resolution strengthens the regulatory framework for long-term energy contracts in Colombia, ensuring project execution and energy supply stability.

Resolution No. 40141

Resolution No. 40179 defines the parameters for long-term contracting auctions for electricity generation projects.It convokes a long-term energy contract auction for renewable energy projects. It sets key parameters for the auction process, such as:
1- Energy Demand: It outlines the target demand for renewable energy to be auctioned
2- Contract Period: It defines the contract length and when the obligations to supply electricity begin.
3- Renewable Energy Targets: It supports the goal to incorporate non-conventional renewable energy sources into the country’s energy matrix, as outlined in the National Expansion Plan.
4- Previous Auctions: It acknowledges prior energy contracts and identifies a gap in meeting renewable energy goals for 2031.
This resolution aims to bolster energy generation, especially from NCRES, as part of Colombia's commitment to reducing carbon emissions and enhancing energy security.

Resolution No. 40179

It defines and implements a mechanism for promoting long-term contracts for electricity generation projects in Colombia. The key goals of this mechanism include:
- Strengthening the resilience of the electricity generation matrix to climate variability and change.
- Promoting competition and improving price formation efficiency through long-term contracts for new and existing generation projects.
- Mitigating climate change effects by harnessing renewable energy resources.
- Fostering economic development and enhancing regional energy security.
- Reducing greenhouse gas emissions in the electricity generation sector, in line with Colombia's COP21 commitments.
This resolution supports the development of non-conventional renewable energy sources and efficient energy use, contributing to Colombia's sustainable energy goals.

Resolution No. 40141

Main document

Timeline

Note

About the Legislation on Electric Power Generation Projects