Colombia’s $2.2 bn renewables pipeline ‘on schedule’ despite pandemic

Colombian wind and solar power projects totaling more than 2GW of capacity remain on track to be completed by 2022 despite the effects of the coronavirus pandemic. The developments form part of government efforts to raise the share of non-conventional renewable power in Colombia's electricity generation mix from less than 1% today to 12% by 2022. Estimated construction times are around a year for the wind farms and less for the solar parks.

Colombian Cerrejon to miss 20 mn ton coal target owing to strike

For 2020, Cerrejon had a projected initial goal of around 26mn t, which was adjusted to 20mn t owing to the impact of the pandemic. The strike, which enters its 22nd day today, has prevented around 56,000 t/d of coal, or 1.23mn t, from reaching international markets, and could further reduce the company´s output if not lifted soon. Cerrejon, Colombia's second-largest thermal coal producer, exported 12.4mn t in the first eight months of 2020, down by 5.1mn t from the same period in 2019.

$44 bn for Colombia´s economic recovery expected to create 1.7 mm jobs and 4% poverty reduction

Colombia is preparing for the reactivation phase with $44 bn recovery plan to be channeled into four areas: creation of formal jobs, policies to attack poverty, improvement of productivity and an articulating axis for public and private investment. Civil works and construction will drive a large part of that recovery, according to the Finance Ministry.

Over 60% of Colombia companies reported losses as of July 2020

During July 2020, 61.0% of the companies in four sectors - Commerce, Manufacturing, Services and Construction - presented a decrease in cash flow. 32.6% of these companies registered a reduction in workers or hours worked, and 26.5% had difficulties in accessing financial services. 20.6% stated having had problems in the supply of inputs. 63.4% registered a decrease in the demand for their products or services.