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.

Legislation on Electric Power Generation Projects

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Resolution No. 40590

Resolution 40590 approved

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

Resolution passed

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.

Resoltuion No. 40179

Resolution 40179 approved

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

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Carbon Market Regulations Tracker offers standardised summaries and direct links to relevant regulations concerning baseline-and-crediting market activities, within voluntary carbon markets and those under Article 6 of the Paris Agreement.

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Fossil fuel is a generic term for non-renewable energy sources such as coal, fossil gas, and oil (including crude oil, and petroleum products), that can be used for electricity and heat generation. Fossil fuels are hydrocarbons formed from pressurised and heated organic material buried over millions of years.

Fossil gas, commonly known as natural gas, is a fossil fuel consisting chiefly of methane with smaller amounts of other hydrocarbons and trace gases, found in underground deposits.

The activities of industries involved in the production, distribution, and sale of energy, including electricity, gas, and renewables.

This sector provides communication services, software development, and IT solutions.

An aim to achieve a quantifiable outcome within a given time-frame, set by an institution such as a national government.

Policy instruments are techniques or tools used by governing authorities to promote certain policies in order to achieve predetermined goals. Put simply, instruments are how a government tries to achieve its goals, with this taxonomy being focused on national policy instruments.

Risk is the potential for adverse consequences resulting from the dynamic interplay between (climate-related) hazards, exposure, and vulnerability of affected human or ecological systems.

Groups  of people who are adversely affected by climate change or the response to it

A set of principles, processes, and practices that build economic and political power to shift from an extractive economy to a regenerative economy.

Renewable energy means all forms of energy produced from renewable sources in a sustainable manner.

Molecules in the atmosphere that play a key role in the greenhouse effect by trapping heat radiating from Earth’s surface.

Area of the economy in which actors engage in identical or related activities.

In human systems, the process of adjustment to actual or expected climate change and its effects, in order to moderate harm, increase resilience or exploit beneficial opportunities. In natural systems, the process of adjustment to actual climate change and its effects; human intervention may facilitate adjustment to expected climate change and its effects.

The management and allocation of funds, assets and investments to meet various objectives

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Resolution No. 40141

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Legislation on Electric Power Generation Projects

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Resolution No. 40141

Summary

Documents

About this policy

Topics mentioned most in this policy Beta

Part of a collection

Legislation on Electric Power Generation Projects

Note

Topics mentioned most in this policy
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