Colombian exports fell 14% YoY in November; coffee displaces coal

The value of Colombia's exports fell 14.1% year-on-year in November, dragged down by the two main generators of foreign currency in the country, oil and coal, data from the National Statistics Department (DANE) revealed. The contraction moderated compared to October, when the value of the South American country's goods and services purchased abroad fell 21% year-on-year. Exports of oil and its derivatives fell 40.2% in November to $ 724.8 million, while in volume they fell 11.8% compared to the same month of the previous year. Foreign coal sales plummeted 51.8% year-on-year to $ 151 million and were displaced by coffee exports, which rose 16.8% to $ 220.9 million. In the accumulated between January and November, the value of exports of the fourth Latin American economy fell by 22.5% compared to the same period in 2019.

Vestas wins first EnVentus order in Latin America for a 504 MW project in Colombia

Vestas has received a 504 MW order for an undisclosed project in Colombia. The contract includes the supply and installation of 90 V162-5.6 MW EnVentus wind turbines, as well as a 15-year Active Output Management 5000 (AOM 5000) service agreement. This will be the first project to feature turbines from the EnVentus platform in Latin America and it takes the global order intake for the platform past 2 GW. This is the second order received by Vestas in Colombia in the last six months. With more than 12 GW installed or under construction in Latin America, Vestas plays a key role in supporting the continent’s transition towards a more sustainable energy mix.

Colombia allocates more than $615 mn for conflict areas

President of Colombia, Iván Duque, signed decree 1782 that will incorporate resources destined for conflict areas for more than $ 614.9 million. The Colombian Congress approved the resources, which be funded from royalties, and will allow to carry out Development Plans with a Territorial Approach (Pdet) of the areas most affected by violence in Colombia.

Colombia extends 0% taxes on imports of electric vehicles for two years

The Colombian Ministry of Finance published the decree with which it extends for two years (until 2022) the 0% tariff charge for imports of electric vehicles. The purpose of this law is to generate schemes to promote the use of electric vehicles and zero emissions, in order to contribute to sustainable mobility and the reduction of polluting emissions and greenhouse gases, according to the decree. Colombia will have close to 600,000 electric vehicles circulating in 2030, according to industry projections.