Colombia will be offering more than 5,000 MW of capacity in the next renewable energy auction for long-term contracts scheduled for the first quarter of 2021. The procurement round will be oriented towards power retailers serving large industrial consumers and the projects would have to come online before December 2022. The government expects the new auction to allow the country to take even more advantage of its solar potential, especially with more than 6,657 MW across 196 schemes by October 31, according to the national mining and energy planning unit UPME.
Colombia will hold a second bidding round to potentially grant contracts to companies interested in exploring non-conventional oil and gas deposits, using techniques like fracking. Majority state-owned oil company Ecopetrol, Exxonmobil, and Drummond already have contracts for investigative projects and may submit offers in this new round, as can other companies. Each company can be awarded up to two contracts and a maximum of four contracts will be granted.
Colombia hopes the U.S. government under President-elect Joe Biden will maintain a $5 billion investment program to boost economic and social development, as well as improve security in regions affected by drug-related violence. The investment plan announced in August under the government of current U.S. President Donald Trump looks to encourage legal economic opportunities in rural zones where armed groups push cultivation of coca - the chief ingredient in cocaine - by joining private investment, technical assistance, and improved infrastructure to forge links with markets.
Colombia expects to award radiofrequency spectrum for 5G services during the last quarter of 2021, according to the head of the communications industry at the ICT ministry, Jorge Barrera Medina. Colombian operators are currently pushing ahead with 5G pilots through spectrum assigned temporarily.
Msci and the Colombia Stock Exchange (BVC) announced that the Msci Colcap index will replace the Colcap as of the first half of 2021. According to the information of the Bolsa de Colombia, as an index leading stock exchange in Colombia, Msci Colcap is designed to “offer greater transparency and consistency to the Colombian shareholder universe. The index tracks the performance of the values that contribute to the BVC ”, highlights the entity in a statement.