Renewables produce 77% of Colombia’s power in October

Colombia produced 77.4% of its electricity from renewable energy sources, including large hydro-power plants (HPPs), in October, Colombian grid operator XM Compania de Expertos en Mercados said. The overall share of renewable power in the total production declined slightly from 77.6% in September, while clean energy plants increased their output by just 0.81% month-on-month to 152.99 GWh per day on average. Fossil fuel-based generation rose by 2.17% on the month, averaging 44.7 GWh per day in October.

Colombian Mining Ministry: $3.4 bn investments in hydrocarbon sector in 2021

The Vice Minister of Energy, Miguel Lotero, highlighted the importance of the hydrocarbon sector in the economic reactivation, and pointed out that over $3.4 billion in investments are projected for 2021. The minister stressed that the start of the offshore exploration campaign is scheduled for next year, with planned investments of more than $ 1.9 billion, and there are also commitments of $ 940 million for activities in continental areas.

Colombia readies 60 blocks for new oil and gas auction

Colombia has qualified 16 companies for the fourth cycle of its permanent offer of oil and gas drilling rights slated for early next year amid efforts to jumpstart a sector battered by the coronavirus pandemic. The round, which is expected to include up to 60 blocks – both onshore and offshore – will be officially launched on Friday, regulator ANH said in a statement.

BVC and fintech Contrato Marco to use blockchain technology in OTC derivatives market

The Colombian Stock Exchange (BVC) and the fintech Framework Contract announced an agreement to promote the Colibrí platform, which uses blockchain technology, to improve operational efficiency in the over-the-counter (OTC) derivatives market. The Colibri Consortium is made up of institutions such as Bancolombia, BBVA, Santander Caceis Colombia, Deceval, Marco Contract, Porvenir, Skandia, among others.